Sirius XM (NASDAQ:SIRI) Raised to Neutral at Citigroup

Sirius XM (NASDAQ:SIRI) was upgraded by equities research analysts at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $3.30 price objective on the stock, down from their prior price objective of $4.10. Citigroup’s price target would indicate a potential upside of 4.43% from the stock’s previous close.

Several other research analysts have also commented on SIRI. Benchmark cut their price objective 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. StockNews.com started coverage on Sirius XM in a research report on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company cut their price objective 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. Finally, Guggenheim began coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.67.

Sirius XM Stock Up 1.0 %

Shares of Sirius XM stock opened at $3.16 on Wednesday. Sirius XM has a fifty-two week low of $3.04 and a fifty-two week high of $7.95. The firm has a market cap of $12.15 billion, a PE ratio of 9.88, a P/E/G ratio of 1.05 and a beta of 1.04. The business’s fifty day moving average is $3.96 and its two-hundred day moving average is $4.63.

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

Insiders Place Their Bets

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 value of $527,293.90. Following the transaction, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. AE Wealth Management LLC raised its holdings in Sirius XM by 9.2% during the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock worth $421,000 after purchasing an additional 7,837 shares in the last quarter. HB Wealth Management LLC grew its position in Sirius XM by 27.3% in the third quarter. HB Wealth Management LLC now owns 14,740 shares of the company’s stock worth $67,000 after buying an additional 3,163 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Sirius XM in the third quarter worth approximately $282,000. Handelsbanken Fonder AB grew its position in Sirius XM by 16.0% in the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after buying an additional 19,832 shares during the last quarter. Finally, Clarius Group LLC acquired a new position in Sirius XM in the third quarter worth approximately $52,000. 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.