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 report released on Friday. The brokerage set a “hold” rating on the stock.

SIRI has been the subject of several other reports. Wells Fargo & Company reduced their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday. Benchmark reduced their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Guggenheim assumed coverage on Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. Finally, Citigroup raised their price target on Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a report on Friday, January 12th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus target price of $4.70.

Sirius XM Trading Down 0.6 %

SIRI opened at $3.55 on Friday. The stock has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $4.72. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. Sirius XM has a 12-month low of $3.32 and a 12-month high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted 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 during 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%. On average, analysts predict that Sirius XM will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was 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 $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was 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 $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

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