Sirius XM Holdings Inc (SIRI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Sirius XM Holdings Inc (NASDAQ:SIRI) have earned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.25.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. B. Riley restated a “buy” rating on shares of Sirius XM in a research note on Tuesday, January 29th. Buckingham Research upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, January 28th. Morgan Stanley assumed coverage on Sirius XM in a research note on Friday. They set an “equal weight” rating and a $6.50 target price for the company. Finally, Pivotal Research restated a “hold” rating and set a $7.00 target price on shares of Sirius XM in a research note on Thursday, January 31st.
SIRI stock traded up $0.04 during trading on Friday, hitting $6.17. 32,031,948 shares of the company’s stock were exchanged, compared to its average volume of 27,762,244. The stock has a market cap of $27.54 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.49 and a beta of 1.05. Sirius XM has a 52-week low of $5.48 and a 52-week high of $7.70.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Monday, February 11th were given a dividend of $0.0121 per share. This represents a $0.05 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, February 8th. Sirius XM’s dividend payout ratio (DPR) is 19.23%.
Sirius XM declared that its board has approved a stock repurchase program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Sirius XM news, EVP James Arthur Cady sold 588,503 shares of Sirius XM stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the transaction, the executive vice president now owns 1,840,070 shares of the company’s stock, valued at $11,279,629.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas D. Barry sold 48,513 shares of Sirius XM stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $6.06, for a total value of $293,988.78. Following the transaction, the vice president now directly owns 462,465 shares in the company, valued at approximately $2,802,537.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,134 shares of company stock worth $4,245,516. 0.76% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. We Are One Seven LLC acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $41,000. Bruderman Asset Management LLC increased its holdings in shares of Sirius XM by 268.3% in the fourth quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock valued at $49,000 after purchasing an additional 6,241 shares during the period. CWM LLC increased its holdings in shares of Sirius XM by 127.2% in the fourth quarter. CWM LLC now owns 8,959 shares of the company’s stock valued at $51,000 after purchasing an additional 5,015 shares during the period. Sound View Wealth Advisors LLC acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $57,000. Finally, New World Advisors LLC acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $57,000. 16.91% of the stock is currently owned by institutional investors.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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