Analysts Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Target Price at $36.91

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $36.91.

SIRI has been the topic of several research analyst reports. Rosenblatt Securities boosted their price objective on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price objective on the stock. in a report on Thursday, July 25th. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price objective for the stock from $42.50 to $32.50 in a report on Monday, June 24th. 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 research note on Tuesday, August 6th. Finally, Barrington Research restated an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a research note on Monday, July 15th.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently modified their holdings of SIRI. TFO Wealth Partners LLC boosted its stake in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Sirius XM by 66.6% in the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after buying an additional 3,194 shares during the last quarter. First PREMIER Bank bought a new position in Sirius XM during the 1st quarter valued at approximately $31,000. ICA Group Wealth Management LLC purchased a new position in Sirius XM during the fourth quarter valued at $48,000. Finally, Avenir Corp bought a new stake in Sirius XM in the fourth quarter worth $55,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Trading Up 3.9 %

Shares of Sirius XM stock opened at $24.95 on Friday. The stock has a fifty day simple moving average of $31.34 and a 200 day simple moving average of $31.87. Sirius XM has a 12-month low of $22.73 and a 12-month high of $57.80. The company has a market capitalization of $95.97 billion, a P/E ratio of 75.61, a price-to-earnings-growth 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, hitting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. On average, analysts predict that Sirius XM will post 3.14 EPS for the current year.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.266 per share. This represents a $1.06 annualized dividend and a yield of 4.26%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

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.