Morgan Stanley Lowers Sirius XM (NASDAQ:SIRI) Price Target to $21.00

Sirius XM (NASDAQ:SIRI) had its target price reduced by stock analysts at Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 4.98% from the company’s current price.

Several other research firms also recently commented on SIRI. The Goldman Sachs Group reduced their price objective on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Pivotal Research dropped their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company reduced their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, November 13th. They issued a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.42.

Sirius XM Price Performance

NASDAQ SIRI opened at $22.10 on Thursday. The company has a market cap of $7.50 billion, a PE ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $24.09 and its two-hundred day simple moving average is $27.43. Sirius XM has a 52 week low of $20.47 and a 52 week high of $55.40.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Sirius XM by 5.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 142,767 shares of the company’s stock worth $404,000 after purchasing an additional 6,785 shares during the period. Amalgamated Bank lifted its stake in Sirius XM by 30.8% in 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. AE Wealth Management LLC boosted its position in Sirius XM by 61.9% during 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 period. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Sirius XM during the second quarter valued at about $47,000. 10.69% of the stock is currently owned by institutional investors.

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.