Rosenblatt Securities Reaffirms Neutral Rating for Sirius XM (NASDAQ:SIRI)

Sirius XM (NASDAQ:SIRI)‘s stock had its “neutral” rating reiterated by analysts at Rosenblatt Securities in a research note issued on Monday, Benzinga reports. They presently have a $28.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 6.30% from the company’s previous close.

Several other analysts also recently weighed in on SIRI. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. StockNews.com started coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.88.

Sirius XM Trading Up 2.6 %

Shares of Sirius XM stock opened at $26.34 on Monday. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The firm’s 50 day simple moving average is $26.31 and its two-hundred day simple moving average is $29.29. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of -4.15, a PEG ratio of 1.37 and a beta of 1.04.

Insiders Place Their Bets

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 transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 of the company’s stock, valued at $3,126,282.80. The trade was 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 at this link. Also, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

A number of institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in Sirius XM in the 2nd quarter valued at $12,858,000. Dimensional Fund Advisors LP lifted its stake in shares of Sirius XM by 8.9% in the second 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 in the last quarter. AQR Capital Management LLC boosted its position in 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 acquiring an additional 490,761 shares during the last quarter. ProShare Advisors LLC grew its stake in Sirius XM by 25.8% during the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in Sirius XM by 58.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after acquiring an additional 902,079 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

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.