Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

Several other research analysts have also recently weighed in on the stock. Rosenblatt Securities lowered their price target on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Finally, Guggenheim began coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and an average target price of $4.33.

Sirius XM Trading Up 1.0 %

Shares of SIRI stock opened at $2.93 on Monday. The company’s 50-day moving average price is $2.90 and its 200-day moving average price is $4.08. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.95 and a beta of 1.08. Sirius XM has a twelve month low of $2.45 and a twelve month high of $7.95.

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

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Sirius XM by 1.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock valued at $3,120,000 after acquiring an additional 9,956 shares during the period. Morningstar Investment Services LLC purchased a new stake in shares of Sirius XM during the fourth quarter worth approximately $85,000. Northern Trust Corp raised its stake in shares of Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the last quarter. Assetmark Inc. raised its stake in shares of Sirius XM by 1,320.9% during the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after purchasing an additional 36,326 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after purchasing an additional 8,541 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

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.