Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Target Price at $4.74

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.67.

Several equities research analysts recently issued reports on SIRI shares. Wells Fargo & Company dropped their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $4.10 to $3.30 in a report on Wednesday. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.05 to $4.90 in a report on Wednesday. Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Guggenheim started coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock.

Insider Transactions at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Sirius XM by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Sirius XM by 482.9% during the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after buying an additional 12,129,166 shares during the period. Northern Trust Corp raised its holdings in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after acquiring an additional 1,776,700 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Sirius XM by 169.6% in the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock worth $46,572,000 after acquiring an additional 6,482,109 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Down 4.4 %

Shares of SIRI opened at $3.02 on Tuesday. The company has a market capitalization of $11.62 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The firm has a 50 day moving average of $3.89 and a 200 day moving average of $4.61. Sirius XM has a twelve month low of $2.98 and a twelve month high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. On average, sell-side analysts expect that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.52%. Sirius XM’s dividend payout ratio is presently 31.25%.

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.