Sirius XM (NASDAQ:SIRI) Upgraded by Seaport Res Ptn to Buy

Seaport Res Ptn upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research note released on Monday, Zacks.com reports.

Other equities research analysts have also issued reports about the company. Guggenheim initiated coverage on Sirius XM in a research report on Thursday, March 14th. They set a neutral rating and a $4.00 price objective for the company. Benchmark decreased their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research report on Wednesday, March 27th. Citigroup upgraded Sirius XM from a sell rating to a neutral rating and decreased their price objective for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Pivotal Research upgraded Sirius XM from a hold rating to a buy rating and decreased their price objective for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company decreased their price objective on Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $4.42.

Sirius XM Stock Up 3.7 %

NASDAQ:SIRI opened at $3.05 on Monday. Sirius XM has a 1-year low of $2.92 and a 1-year high of $7.95. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The stock has a fifty day simple moving average of $3.75 and a 200 day simple moving average of $4.57.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company posted $0.06 EPS. Sirius XM’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that Sirius XM will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Insider Transactions at Sirius XM

In other 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 transaction of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SIRI. AE Wealth Management LLC raised its stake in shares of Sirius XM by 9.2% in the 3rd quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after acquiring an additional 7,837 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Sirius XM in the 3rd quarter worth approximately $282,000. Handelsbanken Fonder AB increased its position in Sirius XM by 16.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after buying an additional 19,832 shares during the period. Clarius Group LLC bought a new position in Sirius XM in the 3rd quarter worth approximately $52,000. Finally, Balboa Wealth Partners bought a new position in Sirius XM in the 3rd quarter worth approximately $300,000. 10.69% of the stock is owned by institutional investors.

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.