Sirius XM (NASDAQ:SIRI) Rating Reiterated by Bank of America

Sirius XM (NASDAQ:SIRI)‘s stock had its “underperform” rating reaffirmed by Bank of America in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $23.00 price objective on the stock. Bank of America‘s target price would suggest a potential downside of 12.88% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Barrington Research reiterated an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Morgan Stanley reissued an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, September 18th. Five investment 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.com, Sirius XM currently has an average rating of “Hold” and a consensus price target of $30.62.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $26.40 on Thursday. The company’s fifty day moving average is $27.05 and its 200-day moving average is $29.63. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The company has a market capitalization of $101.55 billion, a PE ratio of 80.00, a P/E/G ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, analysts forecast that Sirius XM will post 3.25 EPS for the current year.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the transaction, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted 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 valued at $299,111,000 after buying an additional 363,551 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Sirius XM during the 2nd quarter worth about $12,858,000. Dimensional Fund Advisors LP raised its stake in shares of Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after purchasing an additional 353,860 shares during the period. AQR Capital Management LLC lifted its holdings 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 purchasing an additional 490,761 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares during the period. 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.