Morgan Stanley Reaffirms Underweight Rating for Sirius XM (NASDAQ:SIRI)

Sirius XM (NASDAQ:SIRI)‘s stock had its “underweight” rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $23.00 price target on the stock. Morgan Stanley’s target price would suggest a potential downside of 10.14% from the company’s current price.

Several other brokerages have also weighed in on SIRI. Rosenblatt Securities lifted their target price on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group decreased their price objective on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 18th. Barrington Research restated an “outperform” rating and set a $47.50 target price on shares of Sirius XM in a research report on Monday, July 15th. Finally, Citigroup lowered Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target on the stock. in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $35.75.

Sirius XM Stock Performance

NASDAQ SIRI opened at $25.60 on Tuesday. Sirius XM has a twelve month low of $22.73 and a twelve month high of $57.80. The stock has a market cap of $98.45 billion, a PE ratio of 77.56, a PEG ratio of 0.90 and a beta of 1.08. The firm has a 50-day simple moving average of $31.07 and a 200 day simple moving average of $31.76.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Research analysts forecast that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jump Financial LLC boosted its holdings in Sirius XM by 25.2% in the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after acquiring an additional 8,541 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sirius XM by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock valued at $20,693,000 after purchasing an additional 143,185 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Sirius XM by 105.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 24,944 shares of the company’s stock worth $136,000 after buying an additional 12,791 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sirius XM during the fourth quarter worth approximately $151,000. Finally, D.A. Davidson & CO. lifted its holdings in Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after buying an additional 2,183 shares during the period. 10.69% of the stock is currently owned by institutional investors.

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.