Sirius XM (NASDAQ:SIRI) Upgraded to “In-Line” by Evercore ISI

Evercore ISI upgraded shares of Sirius XM (NASDAQ:SIRI) from an underperform rating to an in-line rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $3.25 price target on the stock, down from their previous price target of $4.25.

Other equities research analysts also recently issued research reports about the company. Seaport Res Ptn upgraded Sirius XM from a neutral rating to a buy rating in a research report on Monday, April 29th. Rosenblatt Securities dropped their price objective on Sirius XM from $4.50 to $3.40 and set a neutral rating for the company in a report on Wednesday, May 1st. Barrington Research reiterated an outperform rating and issued a $4.75 price objective on shares of Sirius XM in a report on Tuesday, May 28th. Benchmark dropped their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Finally, Pivotal Research upgraded Sirius XM from a hold rating to a buy rating and dropped their price objective for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sirius XM has a consensus rating of Hold and an average target price of $4.21.

Sirius XM Stock Down 8.2 %

SIRI stock opened at $2.69 on Monday. The company has a market cap of $10.35 billion, a P/E ratio of 8.15, a PEG ratio of 0.95 and a beta of 1.08. Sirius XM has a twelve month low of $2.45 and a twelve month high of $7.95. The business has a fifty day moving average of $2.89 and a 200-day moving average of $4.07.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, equities research analysts anticipate that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were paid a $0.0266 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.96%. Sirius XM’s payout ratio is 33.33%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total transaction of $32,797.16. Following the completion of the transaction, the director now directly owns 181,827 shares of the company’s stock, valued at $476,386.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SIRI. Berkshire Hathaway Inc boosted its position in shares of Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the period. AQR Capital Management LLC boosted its position in Sirius XM by 482.9% during the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after purchasing an additional 12,129,166 shares during the last quarter. Cadian Capital Management LP acquired a new position in Sirius XM during the third quarter valued at approximately $8,929,000. Northern Trust Corp boosted its position in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Sirius XM by 24.1% during the third quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock valued at $39,193,000 after purchasing an additional 1,685,696 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

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.