Morgan Stanley Cuts Sirius XM (NASDAQ:SIRI) Price Target to $21.00

Sirius XM (NASDAQ:SIRI) had its price objective decreased by Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Thursday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

SIRI has been the subject of several other reports. StockNews.com began coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating for the company. Pivotal Research dropped their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company decreased their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Seaport Res Ptn lowered shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.42.

Sirius XM Price Performance

Sirius XM stock opened at $21.96 on Thursday. The business has a fifty day moving average price of $23.91 and a 200-day moving average price of $27.32. The firm has a market capitalization of $7.45 billion, a P/E ratio of -3.46, a PEG ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Sirius XM has a one year low of $20.47 and a one year high of $55.05.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Friday, February 7th. Sirius XM’s dividend payout ratio (DPR) is presently -17.03%.

Institutional Trading of Sirius XM

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings 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. Mercer Global Advisors Inc. ADV increased its stake in Sirius XM by 5.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 142,767 shares of the company’s stock worth $404,000 after acquiring an additional 6,785 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Sirius XM by 30.8% in the second quarter. Amalgamated Bank now owns 109,112 shares of the company’s stock valued at $309,000 after purchasing an additional 25,714 shares in the last quarter. AE Wealth Management LLC increased its position in Sirius XM by 61.9% in the second quarter. AE Wealth Management LLC now owns 28,923 shares of the company’s stock worth $82,000 after purchasing an additional 11,053 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in Sirius XM during the second quarter valued at $47,000. 10.69% of the stock is currently owned by 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.