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

Sirius XM Holdings Inc. (NASDAQ:SIRIGet Free Report) has been assigned a consensus recommendation of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $4.84.

SIRI has been the subject of several analyst reports. Citigroup upped their price target on shares of Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a research report on Friday, January 12th. Benchmark cut their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company restated an “underweight” rating and set a $4.50 price target (down from $5.00) on shares of Sirius XM in a research report on Tuesday, January 23rd. StockNews.com assumed coverage on shares of Sirius XM in a research report on Thursday. They set a “hold” rating for the company. Finally, Guggenheim assumed coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company.

Check Out Our Latest Stock Report on Sirius XM

Sirius XM Stock Performance

Sirius XM stock opened at $3.88 on Friday. Sirius XM has a fifty-two week low of $3.32 and a fifty-two week high of $7.95. The firm’s fifty day moving average price is $4.64 and its 200-day moving average price is $4.74. The stock has a market cap of $14.91 billion, a P/E ratio of 12.13, a PEG ratio of 1.31 and a beta of 1.05.

Sirius XM (NASDAQ:SIRIGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sell-side analysts predict that Sirius XM will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, February 8th. Sirius XM’s payout ratio is currently 34.38%.

Insider Buying and Selling

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently made changes to their positions in SIRI. Northern Trust Corp boosted its holdings in Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Sirius XM by 16.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock valued at $110,000 after acquiring an additional 3,495 shares during the last quarter. ING Groep NV bought a new stake in shares of Sirius XM in the 3rd quarter worth about $2,110,000. Aigen Investment Management LP bought a new position in Sirius XM during the 3rd quarter valued at about $130,000. Finally, Berkshire Hathaway Inc bought a new position in Sirius XM during the 3rd quarter valued at about $43,768,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

(Get Free Report

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.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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