Sirius XM (NASDAQ:SIRI) Stock Price Down 5% After Analyst Downgrade

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price dropped 5% on Monday after The Goldman Sachs Group lowered their price target on the stock from $26.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. Sirius XM traded as low as $26.26 and last traded at $26.27. Approximately 3,756,023 shares changed hands during trading, an increase of 9% from the average daily volume of 3,457,173 shares. The stock had previously closed at $27.65.

Several other equities research analysts have also weighed in on the company. Benchmark restated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Barrington Research restated an “outperform” rating and set a $40.00 target price on shares of Sirius XM in a report on Monday. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, September 18th. Citigroup lifted their price target on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Finally, StockNews.com began coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.88.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in the stock. Coston McIsaac & Partners grew its holdings in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares during the period. TCTC Holdings LLC purchased a new position in Sirius XM in the third quarter worth about $29,000. Princeton Global Asset Management LLC grew its stake in shares of Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the period. Trium Capital LLP purchased a new stake in shares of Sirius XM during the 3rd quarter valued at about $50,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Sirius XM during the 3rd quarter valued at about $51,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Stock Up 2.6 %

The company’s 50 day moving average price is $26.31 and its two-hundred day moving average price is $29.29. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The stock has a market cap of $10.14 billion, a P/E ratio of -4.15, a PEG ratio of 1.37 and a beta of 1.04.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is currently -16.72%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.