Sirius XM (NASDAQ:SIRI) PT Lowered to $2.50 at Wells Fargo & Company

Sirius XM (NASDAQ:SIRI) had its target price reduced by Wells Fargo & Company from $3.00 to $2.50 in a research report released on Wednesday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Seaport Res Ptn raised Sirius XM from a neutral rating to a buy rating in a research report on Monday, April 29th. Guggenheim assumed coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price target on the stock. StockNews.com initiated coverage on shares of Sirius XM in a research report on Monday, April 29th. They issued a hold rating on the stock. Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and decreased their target price for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group raised shares of Sirius XM from a sell rating to a neutral rating and cut their price target for the stock from $3.50 to $3.25 in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $4.42.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.12 on Wednesday. Sirius XM has a one year low of $2.92 and a one year high of $7.95. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. The company’s 50-day simple moving average is $3.69 and its two-hundred day simple moving average is $4.54.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. Sirius XM’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. Equities analysts expect that Sirius XM will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.0266 dividend. This represents a $0.11 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sirius XM’s payout ratio is 33.33%.

Insiders Place Their Bets

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

A number of hedge funds have recently modified their holdings of SIRI. Truvestments Capital LLC acquired a new position in Sirius XM in the third quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in shares of Sirius XM during the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in shares of Sirius XM in the 1st quarter valued at $31,000. First United Bank & Trust purchased a new stake in Sirius XM during the fourth quarter worth $37,000. Finally, TFO Wealth Partners LLC grew its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after buying an additional 7,028 shares during the period. Hedge funds and other institutional investors 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.