Sirius XM’s (SIRI) Outperform Rating Reaffirmed at Barrington Research

Sirius XM (NASDAQ:SIRI)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a report released on Tuesday, Benzinga reports. They currently have a $5.75 price objective on the stock. Barrington Research’s price objective suggests a potential upside of 92.95% from the company’s current price.

SIRI has been the subject of a number of other reports. Guggenheim assumed coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. StockNews.com assumed coverage on shares of Sirius XM in a report on Monday. They issued a “hold” rating for the company. Wells Fargo & Company reduced their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.75.

Sirius XM Trading Down 6.0 %

Shares of SIRI traded down $0.19 during mid-day trading on Tuesday, reaching $2.98. The company’s stock had a trading volume of 25,490,085 shares, compared to its average volume of 15,587,806. The stock has a market cap of $11.46 billion, a PE ratio of 9.31, a P/E/G ratio of 1.02 and a beta of 1.04. Sirius XM has a 52 week low of $2.96 and a 52 week high of $7.95. The company’s fifty day moving average price is $3.82 and its two-hundred day moving average price is $4.59.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data 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. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Research analysts anticipate that Sirius XM will post 0.29 EPS for the current year.

Insider Buying and Selling at Sirius XM

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

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently modified their holdings of SIRI. AE Wealth Management LLC increased its holdings in shares of Sirius XM by 9.2% during the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after acquiring an additional 7,837 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Sirius XM during the third quarter valued at $282,000. Handelsbanken Fonder AB lifted its position in Sirius XM by 16.0% during the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock valued at $652,000 after purchasing an additional 19,832 shares during the period. Clarius Group LLC acquired a new position in Sirius XM during the third quarter valued at $52,000. Finally, Balboa Wealth Partners acquired a new position in Sirius XM during the third quarter valued at $300,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.