Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $28.96 Average Price Target from Analysts

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned an average rating of “Reduce” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.96.

A number of research analysts have weighed in on SIRI shares. Barrington Research reissued an “outperform” rating and issued a $40.00 target price on shares of Sirius XM in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. StockNews.com initiated coverage on Sirius XM in a report on Wednesday, November 13th. They issued a “sell” rating for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the acquisition, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This represents a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

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

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.31 on Wednesday. The company has a market cap of $9.60 billion, a P/E ratio of -4.47 and a beta of 1.03. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80. The company’s 50-day moving average price is $26.02 and its 200-day moving average price is $28.64. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is -17.03%.

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.