Sirius XM (NASDAQ:SIRI) Downgraded to “Underweight” at Morgan Stanley

Sirius XM (NASDAQ:SIRIGet Rating) was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday, The Fly reports.

Several other analysts also recently commented on SIRI. JPMorgan Chase & Co. downgraded Sirius XM from a “neutral” rating to an “underweight” rating and cut their target price for the company from $7.00 to $6.00 in a research note on Thursday, January 13th. StockNews.com started coverage on Sirius XM in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Wells Fargo & Company cut Sirius XM from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $7.00 in a report on Tuesday, January 4th. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Sirius XM presently has an average rating of “Hold” and an average target price of $7.33.

Sirius XM stock opened at $6.46 on Monday. The company has a market capitalization of $25.50 billion, a P/E ratio of 20.84, a PEG ratio of 2.07 and a beta of 0.95. The stock’s 50 day moving average is $6.35 and its 200 day moving average is $6.29. Sirius XM has a twelve month low of $5.75 and a twelve month high of $7.29.

Sirius XM (NASDAQ:SIRIGet Rating) last issued its earnings results on Tuesday, February 1st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Sirius XM had a negative return on equity of 54.26% and a net margin of 15.10%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $0.07 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Sirius XM will post 0.32 earnings per share for the current fiscal year.

In related news, Director James P. Holden sold 56,233 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $6.21, for a total value of $349,206.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 53,494 shares of the firm’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $6.24, for a total value of $333,802.56. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of SIRI. FMR LLC increased its stake in Sirius XM by 112.4% in the 1st quarter. FMR LLC now owns 710,989 shares of the company’s stock worth $4,031,000 after buying an additional 376,287 shares in the last quarter. Morgan Stanley increased its stake in Sirius XM by 58.1% in the 2nd quarter. Morgan Stanley now owns 6,244,216 shares of the company’s stock worth $40,837,000 after buying an additional 2,295,491 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Sirius XM by 45.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 57,618 shares of the company’s stock worth $351,000 after buying an additional 17,871 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Sirius XM by 7.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 620,825 shares of the company’s stock worth $3,787,000 after buying an additional 41,214 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Sirius XM by 29.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 40,772 shares of the company’s stock worth $249,000 after buying an additional 9,229 shares in the last quarter. Institutional investors and hedge funds own 12.64% of the company’s stock.

Sirius XM Company Profile (Get Rating)

Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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