Rosenblatt Securities Upgrades Sirius XM (NASDAQ:SIRI) to “Buy”

Sirius XM (NASDAQ:SIRI) was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat reports. The brokerage presently has a $46.00 price target on the stock, up from their previous price target of $24.00. Rosenblatt Securities’ price objective indicates a potential upside of 72.87% from the stock’s previous close.

SIRI has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $24.00 in a report on Tuesday, February 10th. Barrington Research reiterated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a report on Thursday, February 5th. Weiss Ratings lowered shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 6th. UBS Group set a $24.00 price objective on shares of Sirius XM in a report on Tuesday, February 10th. Finally, Moffett Nathanson assumed coverage on shares of Sirius XM in a report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.44.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $26.61 on Thursday. The firm’s 50-day moving average price is $23.03 and its 200-day moving average price is $21.84. Sirius XM has a 1-year low of $19.41 and a 1-year high of $28.77. The firm has a market capitalization of $8.96 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.74 and a beta of 0.85. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in SIRI. Brighton Jones LLC bought a new stake in shares of Sirius XM during the fourth quarter worth about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after acquiring an additional 92,111 shares in the last quarter. Focus Partners Wealth increased its position in shares of Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after acquiring an additional 800 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Sirius XM during the second quarter worth about $208,000. 10.69% of the stock is owned by institutional investors.

Key Headlines Impacting Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM won an exclusive U.S. role selling YouTube audio ads — a new, likely material ad-sales channel that should boost revenue and advertiser access to podcasts and music audio inventory. SiriusXM to sell YouTube audio ads exclusively in the U.S.
• Positive Sentiment: The board declared a quarterly cash dividend of $0.27 per share (payable May 27), supporting income-focused investors and signaling continued cash returns to shareholders. SiriusXM Declares Quarterly Cash Dividend
• Positive Sentiment: An analyst upgrade (Rosenblatt to Buy with a $46 target) adds bullish momentum and could attract buy-side interest if other brokers follow. Benzinga
• Neutral Sentiment: Street previews expect earnings growth for the upcoming quarter, which sets up potential for an earnings beat but also raises short-term expectations. Sirius XM Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Industry regulatory scrutiny in Texas of music streaming/platform practices keeps licensing and ad-market dynamics in focus — indirect for SiriusXM but relevant for ad pricing and label relationships. Texas Announces Probe of Music Streaming Platforms
• Negative Sentiment: Bloomberg/Reuters reported iHeartMedia is in talks about a potential merger with SiriusXM — a development that creates deal speculation but also regulatory, integration and strategic uncertainty that likely weighed on the stock today. Investors often sell into takeover rumour volatility until terms and approvals are clearer. IHeartMedia holds merger talks with Sirius XM, Bloomberg News reports

About Sirius XM

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.