Rosenblatt Securities Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock

Sirius XM (NASDAQ:SIRI) had its target price increased by equities researchers at Rosenblatt Securities from $28.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 16.89% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Sirius XM in a report on Monday, November 4th. Morgan Stanley reiterated an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $29.04.

Sirius XM Trading Down 2.8 %

Shares of SIRI stock opened at $24.81 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The business has a 50-day moving average price of $26.29 and a two-hundred day moving average price of $28.60. The firm has a market cap of $8.42 billion, a P/E ratio of -4.02 and a beta of 1.03.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the transaction, the insider now directly owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. The trade was a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have bought 2,646,761 shares of company stock valued at $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in Sirius XM in the 2nd quarter valued at about $12,858,000. Sessa Capital IM L.P. acquired a new stake in Sirius XM in the third quarter valued at approximately $77,983,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Sirius XM during the third quarter worth about $67,598,000. Seizert Capital Partners LLC acquired a new stake in Sirius XM in the third quarter valued at $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sirius XM during the second quarter valued at approximately $5,192,000. Institutional investors and hedge funds 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.