The Goldman Sachs Group Has Lowered Expectations for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI) had its price target dropped by analysts at The Goldman Sachs Group from $26.00 to $23.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 12.68% from the stock’s previous close.

SIRI has been the subject of a number of other research reports. Bank of America reissued an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a research report on Thursday, October 24th. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a report on Thursday, September 26th. StockNews.com started coverage on Sirius XM in a report on Monday, October 28th. They set a “hold” rating on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Monday. Finally, Pivotal Research reduced their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.88.

Sirius XM Trading Up 2.6 %

Sirius XM stock opened at $26.34 on Monday. The stock has a 50-day moving average price of $26.31 and a 200 day moving average price of $29.29. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The stock has a market cap of $10.14 billion, a PE ratio of -4.15, a P/E/G ratio of 1.37 and a beta of 1.04. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of Sirius XM stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased 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 of the company’s stock, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,646,761 shares of company stock valued at $65,952,329. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SIRI. Chase Investment Counsel Corp bought a new position in Sirius XM during the third quarter worth $1,040,000. Supplemental Annuity Collective Trust of NJ acquired a new stake in shares of Sirius XM during the third quarter worth $347,000. State of New Jersey Common Pension Fund D bought a new position in shares of Sirius XM in the 3rd quarter worth about $1,707,000. Rocky Mountain Advisers LLC boosted its holdings in shares of Sirius XM by 48,545.9% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 206,745 shares of the company’s stock valued at $4,890,000 after buying an additional 206,320 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Sirius XM during the 3rd quarter valued at about $318,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.