Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Thursday morning. The brokerage issued a hold rating on the stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company reaffirmed an underweight rating and issued a $4.50 price objective (down previously from $5.00) on shares of Sirius XM in a research report on Tuesday, January 23rd. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research report on Wednesday. Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 target price for the company. Finally, Citigroup upped their target price on Sirius XM from $3.60 to $4.10 and gave the stock a sell rating in a report on Friday, January 12th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $4.84.

Sirius XM Price Performance

NASDAQ:SIRI opened at $3.88 on Thursday. Sirius XM has a 1 year low of $3.32 and a 1 year high of $7.95. The stock’s 50 day simple moving average is $4.64 and its two-hundred day simple moving average is $4.74. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.31 and a beta of 1.05.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. As a group, analysts anticipate that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s dividend payout ratio is presently 34.38%.

Insiders Place Their Bets

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM 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 directly owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. BKM Wealth Management LLC acquired a new stake in shares of Sirius XM in the fourth quarter worth approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of Sirius XM in the third quarter worth approximately $27,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Sirius XM in the third quarter worth approximately $30,000. First United Bank & Trust acquired a new stake in shares of Sirius XM in the fourth quarter worth approximately $37,000. Finally, TFO Wealth Partners LLC boosted its stake in shares of Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 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.