Sirius XM (NASDAQ:SIRI – Get Free Report) had its target price dropped by equities researchers at Morgan Stanley from $23.00 to $21.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 4.37% from the stock’s current price.
A number of other equities research analysts have also recently commented on SIRI. Guggenheim reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sirius XM in a report on Wednesday, December 11th. Rosenblatt Securities upped their price objective on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating for the company. Wells Fargo & Company dropped their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, December 19th. Finally, Barrington Research decreased their price target on Sirius XM from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.42.
Read Our Latest Research Report on SIRI
Sirius XM Stock Performance
Institutional Investors Weigh In On Sirius XM
A number of hedge funds and other institutional investors have recently modified their holdings of SIRI. Point72 Asset Management L.P. acquired a new stake in shares of Sirius XM in the 2nd quarter worth approximately $12,858,000. Sessa Capital IM L.P. purchased a new stake in Sirius XM during the third quarter worth $77,983,000. Thompson Siegel & Walmsley LLC acquired a new stake in Sirius XM in the third quarter valued at $67,598,000. Seizert Capital Partners LLC purchased a new position in shares of Sirius XM in the third quarter valued at $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sirius XM during the 2nd quarter worth $5,192,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.
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.
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