Sirius XM’s (SIRI) “Buy” Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a report published on Tuesday, Benzinga reports. They currently have a $43.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com assumed coverage on shares of Sirius XM in a report on Saturday, October 12th. They set a “hold” rating for the company. Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price objective for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. Rosenblatt Securities boosted their target price on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.25.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $27.10 on Tuesday. The firm has a fifty day moving average of $27.35 and a two-hundred day moving average of $29.95. The stock has a market capitalization of $104.24 billion, a price-to-earnings ratio of 82.12, a PEG ratio of 0.73 and a beta of 1.07. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. As a group, research analysts forecast that Sirius XM will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a dividend of $0.266 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 annualized dividend and a yield of 3.93%. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was bought at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the acquisition, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. acquired a new position in Sirius XM during the second quarter worth approximately $28,000. First PREMIER Bank bought a new stake in Sirius XM in the 1st quarter valued at $31,000. Walker Asset Management LLC acquired a new stake in Sirius XM during the 2nd quarter valued at $33,000. Plato Investment Management Ltd bought a new position in Sirius XM during the second quarter worth $35,000. Finally, Riverview Capital Advisers LLC acquired a new position in shares of Sirius XM in the second quarter valued at $35,000. 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.