Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.25.

Several equities analysts have recently issued reports on SIRI shares. Barrington Research reiterated an “outperform” rating and issued a $47.50 price target on shares of Sirius XM in a research note on Monday, July 15th. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $43.00 price objective on shares of Sirius XM in a report on Tuesday, October 15th. Citigroup increased their target price on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Finally, Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and dropped their target price for the company from $42.50 to $32.50 in a research report on Monday, June 24th.

Sirius XM Price Performance

Sirius XM stock opened at $27.18 on Tuesday. The stock’s fifty day moving average price is $27.22 and its two-hundred day moving average price is $29.72. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The firm has a market cap of $104.55 billion, a PE ratio of 82.36, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. 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 dividend yield of 3.91%. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’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 value of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,646,761 shares of company stock valued at $65,952,329. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in Sirius XM in the second quarter worth approximately $12,858,000. Cubist Systematic Strategies LLC bought a new position in Sirius XM in the second quarter worth approximately $5,192,000. SG Americas Securities LLC boosted its holdings in Sirius XM by 516.5% in the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after acquiring an additional 1,341,352 shares in the last quarter. Marshall Wace LLP bought a new position in Sirius XM in the second quarter worth approximately $3,616,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sirius XM in the second quarter worth approximately $3,238,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.