Sirius XM (NASDAQ:SIRI) Now Covered by JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued on Wednesday, StockNewsAPI reports. The brokerage set an “underweight” rating and a $20.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 14.60% from the company’s current price.

A number of other analysts have also recently weighed in on SIRI. StockNews.com began coverage on shares of Sirius XM in a report on Friday, October 4th. They issued a “hold” rating for the company. Citigroup boosted their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft cut their price target 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. Rosenblatt Securities raised their price target on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Benchmark reduced their price objective on Sirius XM from $65.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.25.

Sirius XM Stock Up 1.3 %

NASDAQ:SIRI opened at $23.42 on Wednesday. The stock has a market capitalization of $90.09 billion, a price-to-earnings ratio of 70.97, a PEG ratio of 0.83 and a beta of 1.07. The firm has a 50 day moving average of $28.39 and a 200 day moving average of $30.57. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations 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 3.08 EPS for the current year.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM 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 owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of the company. Mather Group LLC. purchased a new position in Sirius XM in the second quarter valued at approximately $28,000. First PREMIER Bank bought a new stake in Sirius XM in the first quarter worth $31,000. Walker Asset Management LLC bought a new position in Sirius XM during the 2nd quarter worth approximately $33,000. Plato Investment Management Ltd bought a new stake in Sirius XM during the 2nd quarter valued at $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in shares of Sirius XM during the second quarter worth about $35,000. 10.69% of the stock is owned by institutional investors.

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.