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

Equities researchers at StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Thursday. The firm set a “hold” rating on the stock.

Other equities analysts also recently issued reports about the stock. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lowered their price target on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Benchmark lowered their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.11.

Sirius XM Trading Down 1.6 %

NASDAQ:SIRI opened at $3.41 on Thursday. Sirius XM has a 1 year low of $2.45 and a 1 year high of $7.95. The firm’s fifty day simple moving average is $2.99 and its 200 day simple moving average is $3.82. The firm has a market capitalization of $13.10 billion, a PE ratio of 10.32, a PEG ratio of 1.24 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. As a group, analysts anticipate that Sirius XM will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the transaction, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of large investors have recently bought and sold shares of the company. GM Advisory Group LLC lifted its holdings in shares of Sirius XM by 10.0% in the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after acquiring an additional 2,000 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Sirius XM by 20.5% in the 4th quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after buying an additional 2,139 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Sirius XM by 14.8% in the 4th quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after buying an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Sirius XM by 0.6% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after buying an additional 2,300 shares during the last quarter. Finally, Gitterman Wealth Management LLC raised its holdings in Sirius XM by 7.2% in the 4th quarter. Gitterman Wealth Management LLC now owns 38,410 shares of the company’s stock valued at $210,000 after buying an additional 2,566 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.