Rosenblatt Securities Reiterates “Neutral” Rating for Sirius XM (NASDAQ:SIRI)

Sirius XM (NASDAQ:SIRI)‘s stock had its “neutral” rating reissued by investment analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They presently have a $28.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 6.30% from the company’s previous close.

A number of other brokerages also recently issued reports on SIRI. Pivotal Research cut their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group decreased their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. StockNews.com assumed coverage on Sirius XM in a research report on Monday, October 28th. They set a “hold” rating for the company. Finally, Citigroup upped their target price on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.88.

Sirius XM Price Performance

Sirius XM stock opened at $26.34 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $26.31 and a 200 day moving average price of $29.29. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The stock has a market cap of $10.14 billion, a P/E ratio of -4.15, a PEG ratio of 1.37 and a beta of 1.04.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,646,761 shares of company stock valued at $65,952,329 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coston McIsaac & Partners lifted its position in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Mather Group LLC. purchased a new stake in Sirius XM during the 2nd quarter worth about $28,000. TCTC Holdings LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth about $29,000. Princeton Global Asset Management LLC increased its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Walker Asset Management LLC acquired a new stake in shares of Sirius XM during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

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.