Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

SIRI has been the topic of several other reports. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a report on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price target on the stock. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, September 18th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Barrington Research restated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.25.

Sirius XM Stock Up 1.9 %

SIRI opened at $27.61 on Friday. The stock has a market cap of $106.21 billion, a P/E ratio of 83.67, a PEG ratio of 0.73 and a beta of 1.07. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The business has a fifty day moving average of $27.27 and a 200 day moving average of $29.82.

Sirius XM (NASDAQ:SIRI) last announced 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 analysts’ expectations of $2.20 billion. Equities analysts anticipate that Sirius XM will post 3.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the transaction, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction that occurred on 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 $3,126,282.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Large investors have recently bought and sold shares of the stock. Bfsg LLC boosted its stake in shares of Sirius XM by 35.3% during the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Sirius XM by 113.6% in the third quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after buying an additional 1,938 shares during the period. Trium Capital LLP acquired a new position in shares of Sirius XM in the 3rd quarter valued at $50,000. Allspring Global Investments Holdings LLC grew its position in Sirius XM by 388.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,912 shares of the company’s stock valued at $116,000 after purchasing an additional 3,906 shares in the last quarter. Finally, Bard Financial Services Inc. increased its holdings in Sirius XM by 41.3% in the second quarter. Bard Financial Services Inc. now owns 17,100 shares of the company’s stock worth $48,000 after buying an additional 5,000 shares during the last quarter. 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.