Sirius XM (NASDAQ:SIRI) Given New $28.00 Price Target at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its price target raised by research analysts at Rosenblatt Securities from $3.40 to $28.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 20.33% from the company’s current price.

Several other research analysts also recently commented on the company. Guggenheim reduced their target price on Sirius XM from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. StockNews.com started coverage on Sirius XM in a research note on Monday, August 19th. They issued a “hold” rating for the company. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Finally, Barrington Research restated an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $36.82.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $23.27 on Monday. Sirius XM has a 52-week low of $22.73 and a 52-week high of $57.80. The business has a fifty day moving average of $32.06 and a two-hundred day moving average of $32.25. The stock has a market cap of $89.51 billion, a PE ratio of 70.52, a PEG ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last announced its quarterly 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. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Analysts predict that Sirius XM will post 3.14 earnings per share for the current year.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the 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 transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in shares of Sirius XM during the 2nd quarter worth about $28,000. First PREMIER Bank acquired a new position in Sirius XM during the first quarter valued at approximately $31,000. Walker Asset Management LLC bought a new stake in Sirius XM in the second quarter valued at approximately $33,000. Plato Investment Management Ltd bought a new stake in Sirius XM in the second quarter valued at approximately $35,000. Finally, Riverview Capital Advisers LLC acquired a new stake in Sirius XM in the second quarter worth $35,000. Institutional investors own 10.69% of the company’s stock.

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.