Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Saturday. The firm issued a hold rating on the stock.

SIRI has been the topic of several other research reports. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a report on Wednesday, March 27th. Wells Fargo & Company cut their target price on Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a report on Monday, April 1st. Guggenheim assumed coverage on Sirius XM in a report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Finally, Citigroup lifted their price objective on Sirius XM from $3.60 to $4.10 and gave the stock a sell rating in a research report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sirius XM presently has a consensus rating of Hold and a consensus target price of $4.74.

Sirius XM Price Performance

NASDAQ SIRI opened at $3.18 on Friday. The stock’s 50-day moving average is $4.18 and its 200-day moving average is $4.68. Sirius XM has a one year low of $3.15 and a one year high of $7.95. The firm has a market cap of $12.23 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.09 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities analysts anticipate that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.35%. Sirius XM’s dividend payout ratio is currently 34.38%.

Insiders Place Their Bets

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC bought a new position in Sirius XM during the 3rd quarter valued at about $27,000. BKM Wealth Management LLC acquired a new position in Sirius XM during the 4th quarter valued at approximately $27,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Sirius XM in the third quarter worth $30,000. First PREMIER Bank purchased a new stake in Sirius XM during the first quarter worth $31,000. Finally, FNY Investment Advisers LLC purchased a new position in Sirius XM during the third quarter valued at $34,000. 10.69% of the stock is currently owned by 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.