Sirius XM (NASDAQ:SIRI) Upgraded to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $3.25 price target on the stock, down from their previous price target of $3.50.

A number of other equities analysts have also commented on the stock. Guggenheim assumed coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Pivotal Research raised Sirius XM from a hold rating to a buy rating and reduced their price target for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Barrington Research reissued an outperform rating and set a $5.75 target price on shares of Sirius XM in a research report on Tuesday. Seaport Res Ptn upgraded shares of Sirius XM from a neutral rating to a buy rating in a research note on Monday. Finally, Benchmark reduced 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of Hold and an average price target of $4.42.

Sirius XM Stock Up 3.7 %

NASDAQ SIRI opened at $3.05 on Wednesday. Sirius XM has a 52 week low of $2.92 and a 52 week high of $7.95. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.00 and a beta of 1.10. The company has a fifty day moving average of $3.75 and a two-hundred day moving average of $4.57.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts anticipate that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.49%. Sirius XM’s payout ratio is presently 33.33%.

Insider Activity

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

Institutional Investors Weigh In On Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its position in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after buying an additional 1,776,700 shares during the period. Louisiana State Employees Retirement System acquired a new position in Sirius XM in the 4th quarter worth about $1,669,000. O Shaughnessy Asset Management LLC boosted its position in Sirius XM by 16.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after purchasing an additional 3,495 shares in the last quarter. TIAA Trust National Association grew its holdings in Sirius XM by 92.9% in the fourth quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock valued at $218,000 after purchasing an additional 19,161 shares during the period. Finally, ING Groep NV purchased a new stake in shares of Sirius XM in the third quarter valued at approximately $2,110,000. Institutional investors and hedge funds 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.