Wells Fargo & Company Lowers Sirius XM (NASDAQ:SIRI) Price Target to $3.00

Sirius XM (NASDAQ:SIRI) had its target price lowered by stock analysts at Wells Fargo & Company from $4.50 to $3.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 18.70% from the stock’s current price.

A number of other research analysts also recently issued reports on SIRI. StockNews.com assumed coverage on shares of Sirius XM in a research note on Thursday, March 28th. They issued a “hold” rating for the company. Benchmark decreased their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Citigroup lifted their price target on shares of Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research note on Friday, January 12th. Finally, Guggenheim assumed coverage on shares of Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $4.70.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.69 on Monday. The firm has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $4.73. Sirius XM has a one year low of $3.32 and a one year high of $7.95. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.32 and a beta of 1.04.

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

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 that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction 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 $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of SIRI. Truvestments Capital LLC acquired a new position in shares of Sirius XM in the 3rd quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in Sirius XM in the 4th quarter valued at $27,000. Hibernia Wealth Partners LLC acquired a new position in Sirius XM in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC acquired a new position in Sirius XM in the 3rd quarter valued at $34,000. Finally, Comerica Bank acquired a new position in Sirius XM in the 3rd quarter valued at $35,000. 10.69% of the stock is 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.