StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Investment analysts at StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Friday. The firm set a “hold” rating on the stock.

SIRI has been the topic of several other research reports. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price objective for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, September 18th. Barrington Research reiterated an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a research note on Monday, July 15th. Finally, The Goldman Sachs Group decreased their target price on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.27.

Sirius XM Price Performance

SIRI stock opened at $23.18 on Friday. The stock has a market capitalization of $89.16 billion, a price-to-earnings ratio of 70.24, a price-to-earnings-growth ratio of 0.83 and a beta of 1.07. The company has a 50-day moving average of $28.92 and a two-hundred day moving average of $30.92. Sirius XM has a 52-week low of $22.50 and a 52-week high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Equities analysts expect that Sirius XM will post 3.08 EPS for the current fiscal year.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently made changes to their positions in the company. TFO Wealth Partners LLC grew 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 buying an additional 7,028 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings 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 acquiring an additional 3,194 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Sirius XM in the 1st quarter worth approximately $31,000. Avenir Corp bought a new stake in Sirius XM during the 4th quarter worth approximately $55,000. Finally, Keynote Financial Services LLC acquired a new stake in Sirius XM during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.