Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Tuesday. The firm issued a hold rating on the stock.

A number of other research analysts have also commented on the company. Rosenblatt Securities reissued a “neutral” rating and set a $28.00 price objective on shares of Sirius XM in a report on Monday. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Sirius XM in a research report on Monday. Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Citigroup lifted their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price target for the company. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.88.

Sirius XM Trading Up 2.6 %

Shares of NASDAQ:SIRI opened at $26.34 on Tuesday. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The firm has a fifty day moving average price of $26.31 and a 200 day moving average price of $29.29. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $10.14 billion, a PE ratio of -4.15, a P/E/G ratio of 1.37 and a beta of 1.04.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.10%. Sirius XM’s payout ratio is currently -16.72%.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction 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 represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the 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 completion of the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. Coston McIsaac & Partners increased its position in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of Sirius XM during the third quarter worth approximately $29,000. Bfsg LLC raised its stake in shares of Sirius XM by 35.3% in the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Sirius XM by 113.6% during the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock worth $86,000 after acquiring an additional 1,938 shares during the last quarter. 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.