Sirius XM (NASDAQ:SIRI) Upgraded by Seaport Res Ptn to Buy

Seaport Res Ptn upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research report report published on Monday, Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a report on Wednesday, March 27th. Citigroup upgraded shares of Sirius XM from a sell rating to a neutral rating and cut their price objective for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. StockNews.com initiated coverage on Sirius XM in a research note on Monday. They issued a hold rating on the stock. Guggenheim started coverage on Sirius XM in a report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Finally, Pivotal Research raised Sirius XM from a hold rating to a buy rating and lowered their price target for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM has an average rating of Hold and a consensus target price of $4.67.

Sirius XM Trading Up 5.0 %

NASDAQ:SIRI opened at $3.17 on Monday. The firm has a 50 day moving average of $3.82 and a 200-day moving average of $4.59. Sirius XM has a 1 year low of $2.97 and a 1 year high of $7.95. The stock has a market capitalization of $12.19 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The business 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, analysts forecast that Sirius XM will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a dividend of $0.0266 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.36%. Sirius XM’s payout ratio is 34.38%.

Insiders Place Their Bets

In other news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was 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 $5,370,042.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction 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 owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on 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 sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC grew its stake in shares of Sirius XM by 9.2% in the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after buying an additional 7,837 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at about $282,000. Handelsbanken Fonder AB increased its stake in shares of Sirius XM by 16.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after purchasing an additional 19,832 shares during the last quarter. Clarius Group LLC bought a new stake in shares of Sirius XM in the 3rd quarter valued at about $52,000. Finally, Balboa Wealth Partners acquired a new stake in Sirius XM in the 3rd quarter valued at about $300,000. 10.69% of the stock is currently owned by institutional investors.

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.