Sirius XM (NASDAQ:SIRI) Cut to Hold at Seaport Res Ptn

Seaport Res Ptn lowered shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 target price on shares of Sirius XM in a research report on Monday, November 4th. The Goldman Sachs Group cut their target price on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Citigroup increased their price target on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sirius XM in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average target price of $29.04.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $24.81 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average is $26.29 and its two-hundred day moving average is $28.60. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The company has a market capitalization of $8.42 billion, a PE ratio of -4.02 and a beta of 1.03.

Sirius XM Increases Dividend

The company also recently declared 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 4.35%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently -17.03%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the company’s 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 directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have bought 2,646,761 shares of company stock valued at $65,952,329. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Savant Capital LLC purchased a new position in shares of Sirius XM during the second quarter worth $613,000. FMR LLC raised its stake in shares of Sirius XM by 472.6% during the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock valued at $11,766,000 after buying an additional 410,621 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Sirius XM in the 3rd quarter valued at about $921,000. Cetera Advisors LLC grew its holdings in Sirius XM by 102.8% during the first quarter. Cetera Advisors LLC now owns 36,295 shares of the company’s stock worth $141,000 after acquiring an additional 18,401 shares during the period. Finally, Dynamic Advisor Solutions LLC purchased a new position in Sirius XM during the second quarter valued at approximately $59,000. 10.69% of the stock is currently 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.