StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Investment analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Sunday. The brokerage set a “hold” rating on the stock.

Several other research analysts have also weighed in on the company. Wells Fargo & Company reduced their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Benchmark reduced their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Citigroup upped their price objective on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Finally, Guggenheim initiated coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.74.

Sirius XM Trading Up 1.0 %

SIRI stock opened at $3.09 on Friday. The business’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $4.65. The firm has a market cap of $11.89 billion, a PE ratio of 9.66, a P/E/G ratio of 1.04 and a beta of 1.04. Sirius XM has a 1-year low of $3.04 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. On average, analysts forecast that Sirius XM will post 0.29 earnings per share for the current year.

Insider Activity at Sirius XM

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

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Truvestments Capital LLC bought a new stake in Sirius XM in the third quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new position in shares of Sirius XM during the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new position in shares of Sirius XM during the first quarter worth approximately $31,000. Comerica Bank bought a new position in shares of Sirius XM during the third quarter worth approximately $35,000. Finally, First United Bank & Trust bought a new position in shares of Sirius XM during the fourth quarter worth approximately $37,000. Institutional investors own 10.69% of the company’s stock.

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.