Sirius XM (NASDAQ:SIRI) Upgraded to Neutral by The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $3.25 target price on the stock, down from their previous target price of $3.50.

Other analysts have also issued research reports about the company. Pivotal Research raised Sirius XM from a hold rating to a buy rating and decreased their price objective for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Benchmark cut their target price on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research report on Wednesday, March 27th. Wells Fargo & Company cut their target price on Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a research report on Monday, April 1st. Barrington Research restated an outperform rating and set a $5.75 target price on shares of Sirius XM in a research report on Tuesday. Finally, Citigroup upgraded Sirius XM from a sell rating to a neutral rating and cut their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $4.42.

Sirius XM Trading Up 2.3 %

Shares of NASDAQ:SIRI opened at $3.12 on Wednesday. Sirius XM has a 1-year low of $2.92 and a 1-year high of $7.95. The firm has a market capitalization of $12.00 billion, a PE ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.10. The business’s 50 day moving average is $3.72 and its 200-day moving average is $4.56.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.06 EPS. Sirius XM’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts predict that Sirius XM will post 0.3 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a $0.0266 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.41%. Sirius XM’s payout ratio is 33.33%.

Insider Transactions at Sirius XM

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s 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 completion of the sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s 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 completion of the sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Sirius XM during the third quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in shares of Sirius XM during the fourth quarter worth $27,000. First PREMIER Bank acquired a new stake in shares of Sirius XM during the first quarter worth $31,000. First United Bank & Trust acquired a new stake in shares of Sirius XM during the fourth quarter worth $37,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares during the period. Institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.