Sirius XM (NASDAQ:SIRI) Given “Neutral” Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Sirius XM (NASDAQ:SIRI) in a research report released on Monday, Benzinga reports. The firm currently has a $28.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. started coverage on Sirius XM in a report on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Morgan Stanley reiterated an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, Pivotal Research cut their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.88.

Sirius XM Stock Performance

SIRI stock opened at $26.20 on Monday. The stock’s fifty day moving average is $26.19 and its two-hundred day moving average is $29.26. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -4.13, a PEG ratio of 1.37 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.27 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, November 5th. Sirius XM’s payout ratio is presently -17.03%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently bought and sold shares of the stock. Coston McIsaac & Partners boosted its holdings in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after buying an additional 624 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $29,000. Bfsg LLC boosted its stake in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the period. Princeton Global Asset Management LLC grew its position in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Sirius XM by 113.6% during the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after purchasing an additional 1,938 shares during the period. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.