StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Wednesday. The firm issued a sell rating on the stock.

SIRI has been the subject of a number of other reports. Pivotal Research cut their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Citigroup upped their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Benchmark reiterated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Finally, Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average price target of $28.96.

Sirius XM Trading Down 4.6 %

Shares of Sirius XM stock opened at $25.80 on Wednesday. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of -4.07 and a beta of 1.04. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The company’s 50-day simple moving average is $25.61 and its 200-day simple moving average is $29.06. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is -17.03%.

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the acquisition, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This represents a 0.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 2,646,761 shares of company stock valued at $65,952,329 over the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

A number of hedge funds have recently bought and sold shares of the company. Coston McIsaac & Partners raised its holdings in Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. TCTC Holdings LLC purchased a new stake in shares of Sirius XM in the third quarter valued at $29,000. Princeton Global Asset Management LLC increased its stake in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. Trium Capital LLP purchased a new position in Sirius XM during the third quarter worth about $50,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Sirius XM in the 3rd quarter worth about $51,000. Institutional investors and hedge funds 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.