Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Monday. The firm set a “hold” rating on the stock.

Several other research firms have also weighed in on SIRI. Rosenblatt Securities raised their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Benchmark reissued a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Barrington Research restated an “outperform” rating and set a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. began coverage on Sirius XM in a report on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.62.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $26.40 on Monday. The stock has a market capitalization of $101.55 billion, a price-to-earnings ratio of 80.00, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The business’s fifty day moving average price is $26.98 and its two-hundred day moving average price is $29.52. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Research analysts expect that Sirius XM will post 3.25 EPS for the current fiscal year.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’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 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 Securities & Exchange Commission, which is available at this link. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’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 completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares in the company, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,646,761 shares of company stock worth $65,952,329 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp bought a new stake in shares of Sirius XM in the first quarter worth about $2,036,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Sirius XM by 9.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock worth $4,325,000 after purchasing an additional 101,713 shares in the last quarter. Bessemer Group Inc. raised its holdings in Sirius XM by 1,205.4% during the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock worth $1,756,000 after buying an additional 417,900 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Sirius XM by 1.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock valued at $2,250,000 after buying an additional 6,231 shares in the last quarter. Finally, Norden Group LLC lifted its position in Sirius XM by 1,559.4% in the 1st quarter. Norden Group LLC now owns 242,172 shares of the company’s stock valued at $940,000 after acquiring an additional 227,578 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

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.