Sirius XM (NASDAQ:SIRI) Price Target Increased to $28.00 by Analysts at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its target price upped by Rosenblatt Securities from $3.40 to $28.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on the stock. Barrington Research restated an outperform rating and set a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. StockNews.com initiated coverage on shares of Sirius XM in a research report on Monday, August 19th. They set a hold rating for the company. Guggenheim lowered their price target on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a report on Tuesday, August 6th. Finally, Citigroup downgraded shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective for the company. in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of Hold and an average price target of $37.41.

Sirius XM Price Performance

SIRI stock opened at $23.64 on Monday. The firm has a fifty day moving average price of $32.28 and a two-hundred day moving average price of $32.38. The firm has a market cap of $90.93 billion, a price-to-earnings ratio of 71.64, a PEG ratio of 0.90 and a beta of 1.08. Sirius XM has a 1-year low of $22.73 and a 1-year high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. As a group, analysts expect that Sirius XM will post 3.14 EPS for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.50%. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Sirius XM by 1.8% during 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 buying an additional 9,956 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Sirius XM during the first quarter valued at about $2,036,000. Morningstar Investment Services LLC purchased a new stake in Sirius XM during the fourth quarter valued at about $85,000. Assetmark Inc. lifted its stake in Sirius XM by 1,320.9% during the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after buying an additional 36,326 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.