StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

Stock analysts at StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

SIRI has been the topic of several other research reports. Guggenheim dropped their price objective on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Rosenblatt Securities dropped their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Barrington Research restated an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a research note on Tuesday, May 28th. Finally, Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and cut their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average price target of $4.11.

Sirius XM Stock Up 1.8 %

NASDAQ:SIRI opened at $2.88 on Tuesday. Sirius XM has a 52 week low of $2.45 and a 52 week high of $7.95. The company has a market cap of $11.08 billion, a PE ratio of 8.73, a P/E/G ratio of 0.92 and a beta of 1.08. The business’s 50 day moving average is $2.87 and its two-hundred day moving average is $4.00.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm’s 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, sell-side analysts expect that Sirius XM will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Sirius XM by 1.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock valued at $3,120,000 after buying an additional 9,956 shares during the period. Morningstar Investment Services LLC acquired a new stake in Sirius XM in the 4th quarter valued at about $85,000. Assetmark Inc. boosted its position in shares of Sirius XM by 1,320.9% during the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after purchasing an additional 36,326 shares in the last quarter. Jump Financial LLC grew its stake in shares of Sirius XM by 25.2% in the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after purchasing an additional 8,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sirius XM by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after purchasing an additional 218,211 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

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.