Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Average Rating of “Hold” by Analysts

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) have received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $6.84.

Several analysts have recently commented on SIRI shares. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sirius XM from $8.00 to $7.50 in a research report on Wednesday, November 2nd. Morgan Stanley reduced their target price on shares of Sirius XM from $6.50 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, October 19th. Finally, Pivotal Research reduced their target price on shares of Sirius XM from $7.10 to $6.75 in a research report on Wednesday, November 2nd.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $6.42 on Tuesday. Sirius XM has a one year low of $5.69 and a one year high of $6.88. The firm has a market cap of $24.97 billion, a P/E ratio of 22.14, a P/E/G ratio of 3.13 and a beta of 0.92. The firm has a 50-day simple moving average of $6.07 and a 200-day simple moving average of $6.20.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 11th will be paid a $0.024 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.10 dividend on an annualized basis and a yield of 1.50%. This is an increase from Sirius XM’s previous quarterly dividend of $0.02. Sirius XM’s payout ratio is currently 34.48%.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Northern Trust Corp increased its holdings in shares of Sirius XM by 22.6% in the 1st quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock valued at $86,779,000 after acquiring an additional 2,413,360 shares during the period. Victory Capital Management Inc. grew its position in Sirius XM by 20.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,901,101 shares of the company’s stock valued at $56,535,000 after buying an additional 1,704,197 shares during the last quarter. Invesco Ltd. boosted its position in shares of Sirius XM by 63.8% during the 1st quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after purchasing an additional 3,074,638 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Sirius XM by 207.4% during the 3rd quarter. New York State Common Retirement Fund now owns 7,324,902 shares of the company’s stock worth $41,825,000 after purchasing an additional 4,941,989 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Sirius XM by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,381,156 shares of the company’s stock worth $32,986,000 after purchasing an additional 46,574 shares in the last quarter. Institutional investors and hedge funds own 10.74% of the company’s stock.

About Sirius XM

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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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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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