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

Equities research analysts at StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

SIRI has been the subject of several other research reports. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Guggenheim started coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price for the company. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Wells Fargo & Company decreased their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research report on Monday, April 1st. Finally, Benchmark decreased their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Sirius XM presently has an average rating of “Hold” and an average price target of $4.75.

Sirius XM Price Performance

Shares of SIRI opened at $2.94 on Monday. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.02 and a beta of 1.04. The business’s 50-day moving average is $3.78 and its 200-day moving average is $4.58. Sirius XM has a fifty-two week low of $2.92 and a fifty-two week high of $7.95.

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

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly 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 accessible through the SEC website. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly 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 accessible through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SIRI. Berkshire Hathaway Inc raised its stake in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares in the last quarter. AQR Capital Management LLC raised its stake in Sirius XM by 482.9% during the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after acquiring an additional 12,129,166 shares in the last quarter. New York State Common Retirement Fund raised its stake in Sirius XM by 169.6% during the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock worth $46,572,000 after acquiring an additional 6,482,109 shares in the last quarter. Cadian Capital Management LP acquired a new position in Sirius XM during the third quarter worth $8,929,000. Finally, Northern Trust Corp increased its stake in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after buying an additional 1,776,700 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.