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

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Sunday. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Citigroup cut Sirius XM from a neutral rating to a sell rating and set a $2.80 price objective for the company. in a research note on Thursday, July 25th. Guggenheim cut their price target on Sirius XM from $3.30 to $2.90 and set a neutral rating for the company in a research note on Thursday, June 27th. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and reduced their target price for the stock from $4.25 to $3.25 in a research note on Monday, June 24th. Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a report on Monday, April 29th. Finally, Pivotal Research upgraded shares of Sirius XM from a hold rating to a buy rating and reduced their price objective for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $3.80.

Sirius XM Price Performance

Shares of SIRI opened at $3.00 on Friday. Sirius XM has a 1-year low of $2.45 and a 1-year high of $5.78. The stock has a market cap of $11.54 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The firm has a fifty day moving average price of $3.16 and a 200 day moving average price of $3.56.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.55%. Sirius XM’s payout ratio is 30.30%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares in the company, valued at approximately $440,203.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 1,447,238 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the completion of the transaction, the insider now owns 989,331 shares in the company, valued at approximately $3,126,285.96. The disclosure for this sale can be found here. Insiders have sold 1,472,274 shares of company stock valued at $4,638,616 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently bought and sold shares of SIRI. Symmetry Investments LP purchased a new stake in shares of Sirius XM during the second quarter worth about $389,000. AE Wealth Management LLC increased its holdings in Sirius XM by 61.9% in the second quarter. AE Wealth Management LLC now owns 28,923 shares of the company’s stock valued at $82,000 after buying an additional 11,053 shares during the last quarter. Riverview Capital Advisers LLC acquired a new stake in Sirius XM during the second quarter valued at approximately $35,000. Elkhorn Partners Limited Partnership bought a new position in Sirius XM during the 2nd quarter worth approximately $45,000. Finally, Amalgamated Bank lifted its stake in Sirius XM by 30.8% during the second quarter. Amalgamated Bank now owns 109,112 shares of the company’s stock worth $309,000 after purchasing an additional 25,714 shares during the last quarter. 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.