Sirius XM (NASDAQ:SIRI) Given New $2.50 Price Target at Wells Fargo & Company

Sirius XM (NASDAQ:SIRI) had its price objective trimmed by Wells Fargo & Company from $3.00 to $2.50 in a report issued on Wednesday, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup upgraded shares of Sirius XM from a sell rating to a neutral rating and cut their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Rosenblatt Securities cut their target price on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating for the company in a research report on Wednesday. Benchmark cut their target price on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research report on Wednesday, March 27th. StockNews.com started coverage on shares of Sirius XM in a research report on Monday. They issued a hold rating for the company. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a neutral rating to a buy rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $4.42.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.05 on Wednesday. The company has a market cap of $11.73 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. Sirius XM has a 52 week low of $2.92 and a 52 week high of $7.95. The firm has a 50 day simple moving average of $3.75 and a 200 day simple moving average of $4.57.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, equities analysts predict that Sirius XM will post 0.29 earnings per share 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.49%. Sirius XM’s dividend payout ratio (DPR) is 34.38%.

Insider Transactions at Sirius XM

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Sirius XM by 239.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock valued at $703,000 after buying an additional 127,689 shares during the last quarter. Source Financial Advisors LLC grew its position in Sirius XM by 350.8% in the 1st quarter. Source Financial Advisors LLC now owns 170,215 shares of the company’s stock worth $660,000 after purchasing an additional 132,455 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Sirius XM in the 1st quarter worth $2,036,000. Commonwealth Equity Services LLC grew its position in Sirius XM by 6.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 787,856 shares of the company’s stock worth $3,057,000 after purchasing an additional 45,483 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Sirius XM by 32.9% in the 1st quarter. Principal Financial Group Inc. now owns 54,026 shares of the company’s stock worth $210,000 after purchasing an additional 13,364 shares during the last quarter. 10.69% of the stock is currently 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.