Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued on Monday. The brokerage set a “hold” rating on the stock.

SIRI has been the subject of a number of other reports. Wells Fargo & Company decreased their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the company from $4.10 to $3.30 in a research report on Wednesday, April 24th. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and cut their price target for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, Benchmark cut 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 report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $4.67.

Sirius XM Stock Performance

Shares of SIRI stock opened at $3.02 on Monday. The stock has a market cap of $11.62 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.04. The stock has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $4.60. Sirius XM has a 1 year low of $2.97 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 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Analysts forecast that Sirius XM will post 0.29 EPS for the current year.

Insider Transactions at Sirius XM

In other 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 transaction of $527,293.90. Following the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the firm’s 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 transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated 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 directly 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.

Hedge Funds Weigh In On Sirius XM

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after acquiring an additional 1,776,700 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Sirius XM in the 4th quarter valued at about $1,669,000. O Shaughnessy Asset Management LLC increased its stake 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 buying an additional 3,495 shares during the last quarter. TIAA Trust National Association increased its stake in Sirius XM by 92.9% in the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock valued at $218,000 after buying an additional 19,161 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Sirius XM in the 3rd quarter valued at about $2,110,000. 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.