Sirius XM (NASDAQ:SIRI) Raised to “Buy” at Pivotal Research

Sirius XM (NASDAQ:SIRI) was upgraded by analysts at Pivotal Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $4.90 target price on the stock, down from their previous target price of $5.05. Pivotal Research’s price objective would suggest a potential upside of 62.25% from the company’s current price.

A number of other equities analysts also recently issued reports on SIRI. Wells Fargo & Company dropped their price objective 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. Benchmark dropped their price objective 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. Guggenheim initiated coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $4.10 to $3.30 in a research note on Wednesday. Finally, StockNews.com began coverage on shares of Sirius XM in a research note on Sunday, April 21st. They set a “hold” rating on the stock. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.02 on Wednesday. The firm has a market cap of $11.62 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The firm’s 50 day simple moving average is $3.89 and its 200-day simple moving average is $4.61. Sirius XM has a one year low of $2.98 and a one year high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.30 billion. Equities research analysts predict that Sirius XM will post 0.29 EPS for the current fiscal year.

Insider Transactions at Sirius XM

In other news, 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 sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction 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 sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently made changes to their positions in the stock. BKM Wealth Management LLC acquired a new position in Sirius XM during the fourth quarter valued at $27,000. Truvestments Capital LLC acquired a new position in Sirius XM during the third quarter valued at $27,000. First United Bank & Trust acquired a new position in Sirius XM during the fourth quarter valued at $37,000. TFO Wealth Partners LLC lifted its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the period. Finally, American National Bank acquired a new position in Sirius XM during the fourth quarter valued at $41,000. 10.69% of the stock is currently 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.