StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Investment analysts at StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a note issued to investors on Sunday. The firm set a “hold” rating on the stock.

SIRI has been the subject of several other reports. Benchmark reduced their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Wells Fargo & Company reduced their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective for the company. Finally, Citigroup increased their price objective on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research note on Friday, January 12th. Three 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.74.

Sirius XM Stock Up 1.0 %

Shares of NASDAQ SIRI opened at $3.09 on Friday. Sirius XM has a 12 month low of $3.04 and a 12 month high of $7.95. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.04 and a beta of 1.04. The business has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $4.65.

Sirius XM (NASDAQ:SIRI) last announced its earnings results 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 negative return on equity of 42.54% and a net margin of 14.05%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, sell-side analysts expect that Sirius XM will post 0.29 EPS for the current fiscal year.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Sirius XM by 1.5% in the 1st quarter. BlackRock Inc. now owns 55,856,344 shares of the company’s stock valued at $221,750,000 after buying an additional 839,408 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after acquiring an additional 363,551 shares during the period. Berkshire Hathaway Inc lifted its position in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares during the period. State Street Corp lifted its position in shares of Sirius XM by 18.1% in the 2nd quarter. State Street Corp now owns 28,762,745 shares of the company’s stock worth $130,295,000 after acquiring an additional 4,411,282 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after acquiring an additional 12,129,166 shares during the period. Institutional investors and hedge funds 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.