StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Equities researchers at StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRIGet Free Report) in a report issued on Sunday. The firm set a “hold” rating on the stock.

SIRI has been the subject of several other research reports. Benchmark lowered their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Barrington Research reissued an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a research note on Tuesday, May 28th. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. 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 company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $4.33.

Check Out Our Latest Report on SIRI

Sirius XM Stock Up 1.5 %

Shares of SIRI stock opened at $2.65 on Friday. The company has a market capitalization of $10.19 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.85 and a beta of 1.08. Sirius XM has a 12-month low of $2.45 and a 12-month high of $7.95. The firm has a 50-day moving average price of $2.94 and a 200 day moving average price of $4.13.

Sirius XM (NASDAQ:SIRIGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.06 EPS. Sirius XM’s revenue was up .8% on a year-over-year basis. As a group, research analysts expect that Sirius XM will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the transaction, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Sirius XM by 1.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after purchasing an additional 9,956 shares during the period. 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 during the period. Morningstar Investment Services LLC acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $85,000. Assetmark Inc. increased its stake in shares of Sirius XM by 1,320.9% in the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after buying an additional 36,326 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Sirius XM by 25.2% in the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

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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.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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