Sirius XM (NASDAQ:SIRI) Price Target Cut to $6.50 by Analysts at Benchmark

Sirius XM (NASDAQ:SIRI) had its price objective cut by analysts at Benchmark from $7.00 to $6.50 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 67.53% from the company’s current price.

Several other research firms have also weighed in on SIRI. StockNews.com began coverage on Sirius XM in a research report on Wednesday, March 20th. They set a “hold” rating on the stock. Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price objective (down previously from $5.00) on shares of Sirius XM in a research note on Tuesday, January 23rd. Finally, Citigroup lifted their price objective on Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a research note on Friday, January 12th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.84.

Sirius XM Stock Down 0.5 %

NASDAQ SIRI opened at $3.88 on Wednesday. Sirius XM has a twelve month low of $3.32 and a twelve month high of $7.95. The firm has a market capitalization of $14.91 billion, a PE ratio of 12.13, a P/E/G ratio of 1.31 and a beta of 1.05. The stock’s 50 day moving average is $4.64 and its 200 day moving average is $4.74.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results 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. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts anticipate that Sirius XM will post 0.29 earnings per share for the current year.

Insider Transactions at Sirius XM

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

Institutional Trading of Sirius XM

Several large investors have recently modified their holdings of SIRI. Truvestments Capital LLC bought a new stake in Sirius XM during the third quarter valued at about $27,000. BKM Wealth Management LLC bought a new stake in Sirius XM during the fourth quarter valued at about $27,000. Hibernia Wealth Partners LLC bought a new stake in Sirius XM during the third quarter valued at about $30,000. FNY Investment Advisers LLC bought a new stake in Sirius XM during the third quarter valued at about $34,000. Finally, Comerica Bank bought a new stake in Sirius XM during the third quarter valued at about $35,000. Institutional investors own 10.69% of the company’s stock.

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.