Moffett Nathanson Begins Coverage on Sirius XM (NASDAQ:SIRI)

Research analysts at Moffett Nathanson started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “hold” rating and a $21.00 price target on the stock. Moffett Nathanson’s price target indicates a potential upside of 4.27% from the stock’s previous close.

Several other research firms have also recently commented on SIRI. Rosenblatt Securities reiterated a “neutral” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Monday, December 1st. JPMorgan Chase & Co. increased their target price on Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target (up from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sirius XM in a research note on Monday, December 29th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.88.

Sirius XM Trading Down 0.2%

NASDAQ SIRI opened at $20.14 on Tuesday. The stock has a market cap of $6.78 billion, a P/E ratio of 7.12, a PEG ratio of 0.27 and a beta of 0.93. The company’s fifty day simple moving average is $20.94 and its 200-day simple moving average is $21.98. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.78. Sirius XM has a 52 week low of $18.69 and a 52 week high of $27.41.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($8.74) EPS. Equities research analysts predict that Sirius XM will post 3.2 EPS for the current fiscal year.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,845 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $21.64, for a total transaction of $39,925.80. Following the completion of the sale, the director owned 19,969 shares of the company’s stock, valued at $432,129.16. This represents a 8.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several institutional investors have recently made changes to their positions in SIRI. Berkshire Hathaway Inc boosted its position in Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. AQR Capital Management LLC lifted its stake in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after buying an additional 3,233,922 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Sirius XM by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 2,635,274 shares of the company’s stock valued at $61,336,000 after acquiring an additional 119,755 shares during the period. Check Capital Management Inc. CA grew its position in shares of Sirius XM by 76.7% during the third quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company’s stock worth $47,989,000 after acquiring an additional 895,247 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Sirius XM by 270.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company’s stock worth $45,003,000 after acquiring an additional 1,410,963 shares during the period. 10.69% of the stock is owned by institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.