Sirius XM (NASDAQ:SIRI) Earns “Underweight” Rating from Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Tuesday, MarketBeat reports. The firm currently has a $23.00 price target on the stock.

A number of other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group cut their price target on Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a report on Tuesday, September 17th. Citigroup lowered shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective on the stock. in a report on Thursday, July 25th. Barrington Research reissued an outperform rating and set a $47.50 target price on shares of Sirius XM in a research report on Monday, July 15th. Finally, Evercore ISI raised shares of Sirius XM from an underperform rating to an in-line rating and reduced their price target for the company from $42.50 to $32.50 in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $35.17.

Sirius XM Trading Up 1.0 %

SIRI stock opened at $24.35 on Tuesday. Sirius XM has a 12-month low of $22.73 and a 12-month high of $57.80. The business’s 50-day moving average is $30.50 and its 200 day moving average is $31.58. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 73.52, a PEG ratio of 0.83 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. As a group, equities analysts forecast that Sirius XM will post 3.08 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.37%. Sirius XM’s dividend payout ratio (DPR) is currently 321.22%.

Insider Transactions at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its stake in Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares during the period. First PREMIER Bank purchased a new position in Sirius XM during the first quarter valued at approximately $31,000. ICA Group Wealth Management LLC acquired a new position in Sirius XM in the 4th quarter valued at approximately $48,000. Finally, Avenir Corp purchased a new stake in Sirius XM in the 4th quarter worth approximately $55,000. 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.