Sirius XM (NASDAQ:SIRI) PT Lowered to $26.00

Sirius XM (NASDAQ:SIRI) had its target price cut by equities research analysts at The Goldman Sachs Group from $32.50 to $26.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 11.73% from the stock’s previous close.

Several other research analysts also recently weighed in on SIRI. Citigroup downgraded shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target for the company. in a research report on Thursday, July 25th. Rosenblatt Securities upped their price target on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday. Guggenheim cut their price objective on shares of Sirius XM from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and cut their price objective for the company from $42.50 to $32.50 in a report on Monday, June 24th. Finally, StockNews.com began coverage on shares of Sirius XM in a report on Monday, August 19th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and an average target price of $36.91.

Sirius XM Price Performance

SIRI opened at $23.27 on Tuesday. Sirius XM has a twelve month low of $22.73 and a twelve month high of $57.80. The company has a 50-day moving average price of $31.82 and a 200 day moving average price of $32.18. The company has a market cap of $89.51 billion, a PE ratio of 70.52, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08.

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

Insider Activity

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on 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 owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently made changes to their positions in SIRI. Mather Group LLC. purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $28,000. First PREMIER Bank purchased a new position in shares of Sirius XM during the 1st quarter worth approximately $31,000. Walker Asset Management LLC purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $33,000. Plato Investment Management Ltd purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $35,000. Finally, Riverview Capital Advisers LLC purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.