Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report report published on Wednesday. The brokerage issued a sell rating on the stock.

SIRI has been the subject of several other research reports. Pivotal Research decreased their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of Sirius XM in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.96.

Sirius XM Stock Down 4.6 %

Shares of SIRI opened at $25.80 on Wednesday. The company’s 50-day simple moving average is $25.61 and its 200-day simple moving average is $29.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The stock has a market capitalization of $8.75 billion, a PE ratio of -4.07 and a beta of 1.04.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $0.27 dividend. The ex-dividend date is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.19%. Sirius XM’s payout ratio is -17.03%.

Insider Buying and Selling at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the acquisition, the insider now owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the business. Coston McIsaac & Partners increased its stake in Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. TCTC Holdings LLC purchased a new position in shares of Sirius XM during the third quarter worth about $29,000. Bfsg LLC increased its position in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the period. Princeton Global Asset Management LLC raised its stake in Sirius XM by 2,683.7% during the 3rd 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 last quarter. Finally, Larson Financial Group LLC lifted its position in Sirius XM by 139.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock worth $75,000 after acquiring an additional 1,858 shares during the period. Hedge funds and other institutional investors 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.