Sirius XM (NASDAQ:SIRI) Raised to “Neutral” at Citigroup

Citigroup upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a research note published on Wednesday, Marketbeat reports. Citigroup currently has $3.30 price objective on the stock, down from their previous price objective of $4.10.

SIRI has been the topic of a number of other research reports. StockNews.com started coverage on shares of Sirius XM in a research note on Sunday. They set a hold rating on the stock. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price target on the stock. Benchmark decreased their price target on shares of Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company decreased their price target on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $4.67.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $3.16 on Wednesday. The company’s fifty day simple moving average is $3.92 and its 200-day simple moving average is $4.62. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.06 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 announced its quarterly earnings data 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 business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. As a group, research analysts forecast that Sirius XM will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SIRI. BKM Wealth Management LLC bought a new stake in Sirius XM during the 4th quarter worth about $27,000. Truvestments Capital LLC bought a new stake in Sirius XM during the 3rd quarter worth about $27,000. First United Bank & Trust bought a new stake in Sirius XM during the 4th quarter worth about $37,000. TFO Wealth Partners LLC raised its holdings in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares during the last quarter. Finally, American National Bank bought a new stake in Sirius XM during the 4th quarter worth about $41,000. 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.