Sirius XM (NASDAQ:SIRI) Price Target Raised to $19.00 at Wells Fargo & Company

Sirius XM (NASDAQ:SIRI) had its price objective increased by Wells Fargo & Company from $16.00 to $19.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other brokerages also recently weighed in on SIRI. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Guggenheim reiterated a “buy” rating and issued a $29.00 price objective on shares of Sirius XM in a research report on Thursday, June 26th. Rosenblatt Securities lowered their price objective on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Barrington Research reiterated an “outperform” rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.42.

Sirius XM Trading Up 1.8%

NASDAQ SIRI opened at $24.39 on Wednesday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of -3.74, a PEG ratio of 0.34 and a beta of 0.92. Sirius XM has a one year low of $18.69 and a one year high of $41.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The business’s fifty day moving average is $22.05 and its 200-day moving average is $22.54.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Sirius XM will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM’s payout ratio is -16.56%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the transaction, the director owned 15,471 shares of the company’s stock, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently modified their holdings of the stock. Berkshire Hathaway Inc grew its position in Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock valued at $2,678,283,000 after acquiring an additional 12,313,544 shares during the last quarter. Geode Capital Management LLC grew its position in Sirius XM by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 3,914,785 shares of the company’s stock valued at $89,284,000 after acquiring an additional 154,765 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Sirius XM by 661.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,577,176 shares of the company’s stock valued at $80,630,000 after acquiring an additional 3,107,313 shares during the last quarter. LSV Asset Management grew its position in Sirius XM by 41.5% in the 1st quarter. LSV Asset Management now owns 3,197,800 shares of the company’s stock valued at $72,094,000 after acquiring an additional 937,500 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Sirius XM by 42.0% in the 1st quarter. Ameriprise Financial Inc. now owns 2,345,364 shares of the company’s stock valued at $52,876,000 after acquiring an additional 693,473 shares during the last quarter. 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.