Sirius XM (NASDAQ:SIRI) Cut to “Hold” at Guggenheim

Guggenheim cut shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

SIRI has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and set a $28.00 price objective on shares of Sirius XM in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.96.

Sirius XM Stock Up 0.0 %

Shares of NASDAQ:SIRI opened at $26.13 on Wednesday. The company has a market cap of $8.86 billion, a price-to-earnings ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $25.93 and a 200 day moving average price of $29.21.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.13%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is -16.72%.

Insider Transactions at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 2,646,761 shares of company stock worth $65,952,329. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of hedge funds have recently added to or reduced their stakes in SIRI. Janney Montgomery Scott LLC raised its stake in shares of Sirius XM by 239.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after buying an additional 127,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Sirius XM by 152.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock worth $79,000 after purchasing an additional 12,358 shares during the last quarter. Empowered Funds LLC purchased a new stake in Sirius XM during the 1st quarter worth approximately $48,000. SG Americas Securities LLC raised its holdings in shares of Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after acquiring an additional 1,341,352 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other 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.