Sirius XM (NASDAQ:SIRI) Cut to Hold at Guggenheim

Guggenheim downgraded shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on SIRI. JPMorgan Chase & Co. upped their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday. Morgan Stanley reissued an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a research note on Tuesday, September 24th. Rosenblatt Securities reissued a “neutral” rating and set a $28.00 price objective on shares of Sirius XM in a research note on Monday, November 4th. StockNews.com began coverage on Sirius XM in a research note on Tuesday, November 5th. They set a “hold” rating for the company. Finally, Bank of America reissued an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.96.

Sirius XM Stock Up 0.0 %

Shares of SIRI opened at $26.13 on Wednesday. The firm has a market cap of $8.86 billion, a P/E ratio of -4.12 and a beta of 1.04. The stock has a 50 day simple moving average of $25.93 and a two-hundred day simple moving average of $29.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.13%. Sirius XM’s dividend payout ratio is -17.03%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock in a transaction dated Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Sirius XM in the 2nd quarter worth approximately $12,858,000. Dimensional Fund Advisors LP increased its holdings in Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after buying an additional 353,860 shares in the last quarter. AQR Capital Management LLC increased its holdings in Sirius XM by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after buying an additional 490,761 shares in the last quarter. ProShare Advisors LLC increased its holdings in Sirius XM by 25.8% in the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Sirius XM by 58.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after buying an additional 902,079 shares in the last quarter. Hedge funds and other institutional investors 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.