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 Tuesday morning. The firm issued a hold rating on the stock.

A number of other equities analysts also recently weighed in on SIRI. Seaport Res Ptn upgraded shares of Sirius XM from a neutral rating to a buy rating in a report on Monday, April 29th. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 target price for the company. Citigroup upgraded shares of Sirius XM from a sell rating to a neutral rating and decreased their price target for the company from $4.10 to $3.30 in a research note on Wednesday, April 24th. The Goldman Sachs Group raised Sirius XM from a sell rating to a neutral rating and decreased their target price for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Finally, Barrington Research restated an outperform rating and issued a $5.75 price target on shares of Sirius XM in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $4.42.

Sirius XM Stock Down 1.6 %

Shares of SIRI stock opened at $3.13 on Tuesday. The firm has a market cap of $12.04 billion, a PE ratio of 9.49, a P/E/G ratio of 1.02 and a beta of 1.10. Sirius XM has a 12 month low of $2.92 and a 12 month high of $7.95. The company’s fifty day simple moving average is $3.62 and its 200-day simple moving average is $4.52.

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, beating 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $0.06 EPS. Sirius XM’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared 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. This represents a $0.11 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Insider Buying and Selling

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated 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 of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the company’s 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 sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

Large investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in Sirius XM in the third quarter worth approximately $27,000. BKM Wealth Management LLC bought a new stake in Sirius XM during the 4th quarter valued at $27,000. First PREMIER Bank acquired a new position in Sirius XM during the first quarter worth $31,000. First United Bank & Trust acquired a new position in Sirius XM during the fourth quarter worth $37,000. Finally, TFO Wealth Partners LLC lifted its stake in shares of Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after buying an additional 7,028 shares in the last quarter. 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.