Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) PT at $27.58

Sirius XM Holdings Inc. (NASDAQ:SIRI) has received an average recommendation of “Reduce” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.58.

Several research analysts have weighed in on SIRI shares. Seaport Res Ptn lowered Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Bank of America reissued an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Benchmark reissued a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday, December 19th.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was purchased at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the purchase, the insider now owns 110,276,790 shares of the company’s stock, valued at approximately $3,024,892,349.70. The trade was a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 in the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SIRI. Franklin Resources Inc. raised its position in shares of Sirius XM by 209.1% during the third quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock worth $2,062,000 after acquiring an additional 58,993 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $2,367,000. FMR LLC raised its holdings in Sirius XM by 472.6% during the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock worth $11,766,000 after purchasing an additional 410,621 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Sirius XM in the 2nd quarter worth approximately $613,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sirius XM in the 3rd quarter valued at $5,489,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Price Performance

SIRI opened at $22.80 on Friday. The company’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $28.27. The stock has a market capitalization of $7.73 billion, a P/E ratio of -3.60 and a beta of 1.03. Sirius XM has a one year low of $20.47 and a one year high of $56.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.27 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.74%. Sirius XM’s dividend payout ratio (DPR) is -17.03%.

About Sirius XM

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.