Sirius XM (NASDAQ:SIRI) Earns Underperform Rating from Bank of America

Bank of America reiterated their underperform rating on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have a $23.00 price objective on the stock.

Several other equities analysts have also recently issued reports on SIRI. The Goldman Sachs Group reduced their price objective on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Benchmark reaffirmed a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Barrington Research reiterated an “outperform” rating and issued a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.62.

Sirius XM Stock Down 0.5 %

Shares of NASDAQ:SIRI opened at $26.40 on Thursday. The company has a 50-day moving average price of $26.98 and a 200 day moving average price of $29.58. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The company has a market cap of $101.55 billion, a P/E ratio of 80.00, a PEG ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting 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%. Analysts expect that Sirius XM will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is presently 327.27%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the transaction, the insider now owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the acquisition, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,646,761 shares of company stock valued at $65,952,329 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter worth about $12,858,000. Dimensional Fund Advisors LP boosted its position in shares of Sirius XM by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after buying an additional 353,860 shares during the period. AQR Capital Management LLC grew its stake in shares of Sirius XM by 14.5% in the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after buying an additional 490,761 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Sirius XM by 25.8% during the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after buying an additional 768,570 shares during the period. 10.69% of the stock is 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.