Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Consensus Rating of “Reduce” by Analysts

Sirius XM Holdings Inc. (NASDAQ:SIRI) has earned an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.58.

Several brokerages recently commented on SIRI. JPMorgan Chase & Co. raised their price objective on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Rosenblatt Securities lifted their price target on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Pivotal Research lowered their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Citigroup boosted their target price on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th.

Sirius XM Trading Down 1.3 %

NASDAQ:SIRI opened at $23.13 on Friday. Sirius XM has a 1 year low of $20.47 and a 1 year high of $56.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day moving average price of $25.78 and a two-hundred day moving average price of $28.30. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -3.65 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. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.27 per share. 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.67%. Sirius XM’s payout ratio is -17.03%.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the stock in a transaction on Friday, October 11th. The stock was bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $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 available at this link. Over the last 90 days, 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 Investors Weigh In On Sirius XM

Several hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $58,000. Commonwealth Equity Services LLC boosted its holdings in Sirius XM by 13.7% in the second quarter. Commonwealth Equity Services LLC now owns 895,927 shares of the company’s stock valued at $2,535,000 after acquiring an additional 108,071 shares during the last quarter. Van ECK Associates Corp grew its position in Sirius XM by 13.8% during the second quarter. Van ECK Associates Corp now owns 597,185 shares of the company’s stock valued at $1,690,000 after acquiring an additional 72,528 shares during the period. Picton Mahoney Asset Management acquired a new stake in Sirius XM during the second quarter worth about $159,000. Finally, PACK Private Wealth LLC purchased a new position in shares of Sirius XM in the 2nd quarter worth about $53,000. 10.69% of the stock is 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.