Sirius XM (NASDAQ:SIRI) Price Target Cut to $2.90

Sirius XM (NASDAQ:SIRI) had its target price reduced by stock analysts at Guggenheim from $3.30 to $2.90 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s target price would indicate a potential upside of 2.47% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Barrington Research reiterated an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a research note on Tuesday, May 28th. Benchmark lowered their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Finally, Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM presently has an average rating of “Hold” and a consensus target price of $4.11.

Sirius XM Stock Performance

SIRI opened at $2.83 on Thursday. The stock has a market capitalization of $10.89 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.88 and a beta of 1.08. The company’s 50-day simple moving average is $2.87 and its two-hundred day simple moving average is $4.02. Sirius XM has a 52-week low of $2.45 and a 52-week high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that Sirius XM will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently bought and sold shares of the business. Keynote Financial Services LLC bought a new stake in shares of Sirius XM in the 1st quarter worth about $39,000. DekaBank Deutsche Girozentrale increased its stake in Sirius XM by 7.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 161,891 shares of the company’s stock worth $628,000 after acquiring an additional 11,430 shares during the last quarter. Cetera Advisors LLC raised its position in Sirius XM by 102.8% during the first quarter. Cetera Advisors LLC now owns 36,295 shares of the company’s stock valued at $141,000 after purchasing an additional 18,401 shares during the period. Swedbank AB bought a new stake in shares of Sirius XM in the 1st quarter valued at approximately $387,000. Finally, Virtu Financial LLC bought a new position in shares of Sirius XM during the 1st quarter valued at approximately $723,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.