Sirius XM (NASDAQ:SIRI) Raised to “In-Line” at Evercore ISI

Sirius XM (NASDAQ:SIRI) was upgraded by Evercore ISI from an “underperform” rating to an “in-line” rating in a research note issued on Monday, Marketbeat.com reports. The brokerage currently has a $3.25 price objective on the stock, down from their prior price objective of $4.25. Evercore ISI’s price target would suggest a potential upside of 10.92% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities decreased their price objective 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 raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their target price for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their target price for the company from $4.10 to $3.30 in a research note on Wednesday, April 24th. Guggenheim initiated 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 for the company. Finally, Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.21.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $2.93 on Monday. The firm has a market capitalization of $11.27 billion, a P/E ratio of 8.88, a PEG ratio of 0.95 and a beta of 1.08. Sirius XM has a one year low of $2.45 and a one year high of $7.95. The company’s fifty day moving average is $2.90 and its two-hundred day moving average is $4.08.

Sirius XM (NASDAQ:SIRI) last issued its 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. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. On average, sell-side analysts forecast that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $440,203.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Several institutional investors and hedge funds have recently made changes to their positions in SIRI. Vanguard Group Inc. increased its position in Sirius XM by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after buying an additional 363,551 shares during the period. Berkshire Hathaway Inc increased its position in Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its position in Sirius XM by 482.9% in the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after buying an additional 12,129,166 shares during the period. Northern Trust Corp increased its position in Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the period. Finally, Invesco Ltd. increased its position in Sirius XM by 24.1% in the third quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock worth $39,193,000 after buying an additional 1,685,696 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

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.