Sirius XM (NASDAQ:SIRI) Trading Down 5% on Analyst Downgrade

Sirius XM Holdings Inc. (NASDAQ:SIRI) was down 5% during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $26.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. Sirius XM traded as low as $26.26 and last traded at $26.27. Approximately 3,756,023 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 3,457,173 shares. The stock had previously closed at $27.65.

SIRI has been the topic of a number of other research reports. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. StockNews.com initiated coverage on Sirius XM in a research report on Monday, October 28th. They issued a “hold” rating for the company. JPMorgan Chase & Co. began coverage on Sirius XM in a research note on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective for the company. Finally, Rosenblatt Securities restated a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a report on Monday. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.88.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the acquisition, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the sale, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the business. Coston McIsaac & Partners lifted its position in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after buying an additional 624 shares during the period. Mather Group LLC. acquired a new position in shares of Sirius XM in the 2nd quarter worth approximately $28,000. TCTC Holdings LLC bought a new stake in shares of Sirius XM during the third quarter worth $29,000. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after buying an additional 1,315 shares in the last quarter. Finally, Walker Asset Management LLC bought a new position in shares of Sirius XM in the second quarter worth about $33,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Down 6.2 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. The stock has a market cap of $9.98 billion, a P/E ratio of -4.09, a PEG ratio of 1.32 and a beta of 1.04. The firm’s 50-day moving average is $26.42 and its two-hundred day moving average is $29.32.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.27 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, November 5th. Sirius XM’s dividend payout ratio is currently -16.72%.

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.