Sirius XM (NASDAQ:SIRI) Price Target Lowered to $21.00 at Morgan Stanley

Sirius XM (NASDAQ:SIRI) had its price objective lowered by research analysts at Morgan Stanley from $23.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 4.98% from the stock’s previous close.

A number of other brokerages also recently issued reports on SIRI. Guggenheim restated a “buy” rating and set a $30.00 price target on shares of Sirius XM in a report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Rosenblatt Securities boosted their price objective on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, StockNews.com started coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating for the company. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $27.42.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $22.10 on Thursday. The company’s fifty day simple moving average is $24.09 and its two-hundred day simple moving average is $27.43. Sirius XM has a 12-month low of $20.47 and a 12-month high of $55.40. The firm has a market cap of $7.50 billion, a PE ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of Sirius XM by 209.1% during the third quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock valued at $2,062,000 after acquiring an additional 58,993 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in Sirius XM during the 4th quarter valued at about $268,000. MassMutual Private Wealth & Trust FSB raised its holdings in Sirius XM by 383,152.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 137,971 shares of the company’s stock worth $3,146,000 after buying an additional 137,935 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Sirius XM in the third quarter worth approximately $2,367,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Sirius XM during the fourth quarter valued at approximately $241,000. 10.69% of the stock is owned by institutional investors.

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.