Sirius XM (NASDAQ:SIRI) Rating Increased to Buy at Pivotal Research

Sirius XM (NASDAQ:SIRI) was upgraded by Pivotal Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $4.90 price objective on the stock, down from their previous price objective of $5.05. Pivotal Research’s target price indicates a potential upside of 62.25% from the company’s current price.

Several other analysts have also recently weighed in on the company. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.10 to $3.30 in a research report on Wednesday. Guggenheim assumed coverage on Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. StockNews.com assumed coverage on Sirius XM in a research report on Sunday, April 21st. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Finally, Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.67.

Sirius XM Stock Performance

Sirius XM stock opened at $3.02 on Wednesday. The stock’s 50 day simple moving average is $3.89 and its two-hundred day simple moving average is $4.61. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.07 and a beta of 1.04. Sirius XM has a fifty-two week low of $2.98 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data 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 business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. On average, analysts predict that Sirius XM will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, 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. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in SIRI. Berkshire Hathaway Inc raised its stake in Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after buying an additional 30,559,834 shares during the last quarter. AQR Capital Management LLC raised its stake in Sirius XM by 482.9% during the 3rd 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 last quarter. New York State Common Retirement Fund raised its stake in Sirius XM by 169.6% during the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after buying an additional 6,482,109 shares during the last quarter. Cadian Capital Management LP purchased a new stake in Sirius XM during the 3rd quarter valued at $8,929,000. Finally, Northern Trust Corp raised its stake in Sirius XM by 18.7% during the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after buying an additional 1,776,700 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

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.