Sirius XM (NASDAQ:SIRI) Lifted to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a report published on Wednesday, MarketBeat reports. The firm currently has $3.25 price target on the stock, down from their prior price target of $3.50.

SIRI has been the subject of several other reports. Seaport Res Ptn raised Sirius XM from a neutral rating to a buy rating in a report on Monday, April 29th. Citigroup raised Sirius XM from a sell rating to a neutral rating and decreased their price target for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. Barrington Research reaffirmed an outperform rating and set a $5.75 price target on shares of Sirius XM in a report on Tuesday. Wells Fargo & Company decreased their price target on Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a report on Monday, April 1st. Finally, StockNews.com assumed coverage on Sirius XM in a report on Monday, April 29th. They set a hold rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $4.42.

Sirius XM Stock Up 2.3 %

Shares of Sirius XM stock opened at $3.12 on Wednesday. The firm has a market capitalization of $12.00 billion, a P/E ratio of 9.45, a P/E/G ratio of 1.02 and a beta of 1.10. Sirius XM has a 52 week low of $2.92 and a 52 week high of $7.95. The firm’s 50 day moving average is $3.72 and its two-hundred day moving average is $4.56.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. As a group, research analysts expect that Sirius XM will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio is currently 33.33%.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated 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 of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Sirius XM by 18.7% during the 3rd 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 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. Norden Group LLC purchased a new stake in Sirius XM in the 4th quarter valued at about $80,000. TIAA Trust National Association grew its holdings 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 period. Finally, O Shaughnessy Asset Management LLC grew 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 buying an additional 3,495 shares during the period. Hedge funds and other institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.