Sirius XM’s (SIRI) Underweight Rating Reiterated at Morgan Stanley

Sirius XM (NASDAQ:SIRI)‘s stock had its “underweight” rating reiterated by Morgan Stanley in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $23.00 price target on the stock. Morgan Stanley’s target price would indicate a potential downside of 10.14% from the company’s previous close.

A number of other brokerages have also issued reports on SIRI. The Goldman Sachs Group decreased their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, September 17th. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, September 18th. Barrington Research reiterated an “outperform” rating and issued a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, September 18th. They issued a “hold” rating for the company. Finally, Citigroup downgraded shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 target price on the stock. in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.75.

Sirius XM Stock Up 2.6 %

Shares of NASDAQ SIRI opened at $25.60 on Tuesday. The stock has a market cap of $98.45 billion, a P/E ratio of 77.56, a P/E/G ratio of 0.90 and a beta of 1.08. The firm’s 50-day simple moving average is $31.07 and its 200 day simple moving average is $31.76. Sirius XM has a fifty-two week low of $22.73 and a fifty-two week 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 analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, sell-side analysts anticipate that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares during the period. Berkshire Hathaway Inc boosted its stake in Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. Point72 Asset Management L.P. acquired a new stake in Sirius XM in the 2nd quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP increased its position in Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after buying an additional 353,860 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Sirius XM by 14.5% during the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after buying an additional 490,761 shares during the last quarter. 10.69% of the stock is currently 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.