Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also commented on SIRI. 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 objective on the stock. Benchmark dropped their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Citigroup boosted 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, Wells Fargo & Company dropped their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.74.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.21 on Friday. The firm has a market cap of $12.35 billion, a PE ratio of 10.03, a P/E/G ratio of 1.09 and a beta of 1.04. Sirius XM has a one year low of $3.20 and a one year high of $7.95. The firm’s fifty day moving average is $4.22 and its two-hundred day moving average is $4.69.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Sirius XM

Several institutional investors and hedge funds have recently modified their holdings of SIRI. PNC Financial Services Group Inc. lifted its stake in shares of Sirius XM by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after buying an additional 1,845 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Sirius XM during the first quarter valued at approximately $115,000. Rhumbline Advisers lifted its stake in shares of Sirius XM by 0.5% during the first quarter. Rhumbline Advisers now owns 1,050,105 shares of the company’s stock valued at $6,952,000 after buying an additional 4,947 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Sirius XM by 49.7% during the first quarter. Allianz Asset Management GmbH now owns 47,596 shares of the company’s stock valued at $315,000 after buying an additional 15,809 shares during the period. Finally, Prudential PLC purchased a new position in shares of Sirius XM during the first quarter valued at approximately $293,000. Hedge funds and other 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.