StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Research analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued on Sunday. The firm set a “hold” rating on the stock.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Guggenheim began coverage on Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Benchmark lowered their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, Citigroup raised their price target on Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a research report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $4.74.

Sirius XM Price Performance

Sirius XM stock opened at $3.13 on Friday. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 1.05 and a beta of 1.04. Sirius XM has a one year low of $3.04 and a one year high of $7.95. The company’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $4.64.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. As a group, sell-side analysts anticipate that Sirius XM will post 0.29 earnings per share for the current year.

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the 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 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 can be accessed through this link. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, 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 owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GM Advisory Group LLC lifted its stake in Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after purchasing an additional 2,000 shares during the period. Lindbrook Capital LLC raised its stake in shares of Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after acquiring an additional 2,139 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after acquiring an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC raised its stake in shares of Sirius XM by 9.6% in the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after acquiring an additional 2,420 shares during the last quarter. 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.