Pivotal Research Issues Pessimistic Forecast for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI) had its price objective cut by investment analysts at Pivotal Research from $40.00 to $37.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Pivotal Research’s price target would indicate a potential upside of 33.82% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. StockNews.com started coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating on the stock. The Goldman Sachs Group lowered their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Barrington Research restated an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Rosenblatt Securities restated a “neutral” rating and issued a $28.00 target price on shares of Sirius XM in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.69.

Sirius XM Price Performance

SIRI stock opened at $27.65 on Friday. The stock has a market capitalization of $10.65 billion, a PE ratio of -4.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The company’s 50-day moving average is $26.52 and its 200-day moving average is $29.36. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, analysts anticipate that Sirius XM will post 3.04 earnings per share for the current fiscal year.

Insider Transactions at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction that occurred on 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 acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value 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 approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now 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 disclosure for this purchase can be found here. Insiders purchased a total of 2,646,761 shares of company stock worth $65,952,329 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp bought a new position in Sirius XM in the 1st quarter valued at $2,036,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Sirius XM by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock valued at $4,325,000 after purchasing an additional 101,713 shares during the period. Bessemer Group Inc. boosted its holdings in Sirius XM by 1,205.4% in the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock valued at $1,756,000 after purchasing an additional 417,900 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Sirius XM by 1.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock valued at $2,250,000 after purchasing an additional 6,231 shares during the period. Finally, Norden Group LLC boosted its holdings in Sirius XM by 1,559.4% in the 1st quarter. Norden Group LLC now owns 242,172 shares of the company’s stock valued at $940,000 after purchasing an additional 227,578 shares during the period. 10.69% of the stock is 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.