Sirius XM (NASDAQ:SIRI) Stock Rating Upgraded by Citigroup

Sirius XM (NASDAQ:SIRI) was upgraded by analysts at Citigroup from a “sell” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $3.30 price target on the stock, down from their previous price target of $4.10. Citigroup’s price objective points to a potential upside of 9.27% from the stock’s current price.

A number of other analysts have also issued reports on the company. Wells Fargo & Company reduced their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. StockNews.com initiated coverage on Sirius XM in a report on Sunday, April 21st. They set a “hold” rating for the company. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.67.

Sirius XM Stock Down 4.4 %

SIRI opened at $3.02 on Wednesday. The firm has a market cap of $11.62 billion, a PE ratio of 9.44, a P/E/G ratio of 1.07 and a beta of 1.04. The business has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $4.61. Sirius XM has a fifty-two week low of $2.98 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. On average, equities research analysts anticipate that Sirius XM will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GM Advisory Group LLC grew its position in shares of Sirius XM by 10.0% in the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after purchasing an additional 2,000 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after purchasing an additional 2,139 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after purchasing an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC grew its position in shares of Sirius XM by 9.6% in the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after purchasing an additional 2,420 shares during the last quarter. 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.