Sirius XM (NASDAQ:SIRI) Rating Reiterated by Benchmark

Sirius XM (NASDAQ:SIRI)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued on Tuesday, Benzinga reports. They currently have a $43.00 price target on the stock. Benchmark’s target price indicates a potential upside of 58.85% from the company’s current price.

Several other brokerages have also issued reports on SIRI. The Goldman Sachs Group dropped their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Citigroup boosted their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Morgan Stanley restated an “underweight” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Finally, StockNews.com assumed coverage on shares of Sirius XM in a report on Saturday, October 12th. They issued a “hold” rating for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $31.25.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $27.07 on Tuesday. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The firm has a market cap of $104.13 billion, a PE ratio of 82.03, a PEG ratio of 0.73 and a beta of 1.07. The company has a 50 day simple moving average of $27.44 and a two-hundred day simple moving average of $29.97.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. As a group, research analysts anticipate that Sirius XM will post 3.25 earnings per share for the current year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction on 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 directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the transaction, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently modified their holdings of the business. Mather Group LLC. purchased a new stake in shares of Sirius XM in the 2nd quarter worth about $28,000. First PREMIER Bank bought a new position in Sirius XM in the 1st quarter worth about $31,000. Walker Asset Management LLC bought a new position in Sirius XM in the 2nd quarter worth about $33,000. Plato Investment Management Ltd bought a new position in Sirius XM in the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC bought a new position in Sirius XM in the 2nd quarter worth about $35,000. 10.69% of the stock is owned by hedge funds and other 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.