Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Average Rating of “Reduce” by Analysts

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a consensus rating of “Reduce” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $28.96.

A number of analysts recently issued reports on SIRI shares. The Goldman Sachs Group dropped their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Benchmark reissued a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Pivotal Research reduced their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st.

Sirius XM Trading Down 0.6 %

SIRI opened at $27.35 on Wednesday. The firm has a market capitalization of $9.28 billion, a P/E ratio of -4.31 and a beta of 1.03. The firm’s 50 day moving average is $25.89 and its 200-day moving average is $28.66. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.95%. The ex-dividend date was Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is -17.03%.

Insider Buying and Selling at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the purchase, the insider now owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This represents a 0.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 2,646,761 shares of company stock valued at $65,952,329 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Large investors have recently made changes to their positions in the company. Coston McIsaac & Partners lifted its holdings in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after buying an additional 624 shares during the last quarter. TCTC Holdings LLC bought a new position in shares of Sirius XM during the third quarter valued at $29,000. Princeton Global Asset Management LLC lifted its holdings in shares of Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after acquiring an additional 1,315 shares during the period. Trium Capital LLP bought a new position in shares of Sirius XM during the third quarter valued at $50,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Sirius XM during the third quarter valued at $51,000. 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.