Sirius XM (NASDAQ:SIRI) Earns Outperform Rating from Barrington Research

Sirius XM (NASDAQ:SIRI)‘s stock had its “outperform” rating restated by Barrington Research in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price objective on the stock. Barrington Research’s price target indicates a potential upside of 51.86% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Rosenblatt Securities restated a “neutral” rating and set a $28.00 target price on shares of Sirius XM in a research report on Monday. Bank of America restated an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. 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. Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a research note on Tuesday, September 24th. Finally, Benchmark reissued a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a report on Tuesday, October 15th. Five equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.88.

Sirius XM Stock Up 2.6 %

Shares of SIRI opened at $26.34 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $26.31 and a two-hundred day moving average price of $29.29. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of -4.15, a P/E/G ratio of 1.37 and a beta of 1.04. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM 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 transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

Several hedge funds have recently added to or reduced their stakes in SIRI. Coston McIsaac & Partners increased its holdings in shares of 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 in the last quarter. Mather Group LLC. acquired a new position in shares of Sirius XM in the 2nd quarter valued at approximately $28,000. TCTC Holdings LLC bought a new stake in Sirius XM during the 3rd quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its holdings in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares during the period. Finally, Walker Asset Management LLC acquired a new stake in Sirius XM during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds 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.