Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Tuesday. The firm set a “hold” rating on the stock.

A number of other analysts also recently weighed in on SIRI. Bank of America reiterated an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. The Goldman Sachs Group decreased their target price on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Sirius XM in a research note on Monday. 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 research report on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.88.

Sirius XM Trading Down 6.2 %

NASDAQ:SIRI opened at $25.93 on Tuesday. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. The firm’s fifty day moving average is $26.42 and its 200-day moving average is $29.32. The firm has a market cap of $9.98 billion, a P/E ratio of -4.09, a P/E/G ratio of 1.32 and a beta of 1.04.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction 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 in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the transaction, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction 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 transaction, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. Coston McIsaac & Partners raised its position in Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Sirius XM during the 3rd quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares during the period. Trium Capital LLP purchased a new position in Sirius XM in the third quarter valued at approximately $50,000. Finally, Nisa Investment Advisors LLC bought a new position in Sirius XM during the third quarter valued at $51,000. 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.