Wells Fargo & Company Issues Pessimistic Forecast for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI) had its price target decreased by stock analysts at Wells Fargo & Company from $22.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 23.52% from the company’s current price.

Several other equities analysts also recently commented on SIRI. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. Morgan Stanley reiterated an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Pivotal Research lowered their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.58.

Sirius XM Trading Down 2.7 %

Shares of SIRI traded down $0.59 during mid-day trading on Thursday, reaching $20.92. 2,481,426 shares of the company’s stock traded hands, compared to its average volume of 3,720,494. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50-day moving average is $26.27 and its two-hundred day moving average is $28.45. Sirius XM has a 12 month low of $20.92 and a 12 month high of $56.80. The stock has a market cap of $7.10 billion, a P/E ratio of -3.30 and a beta of 1.03.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 2,646,761 shares of company stock valued at $65,952,329 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Coston McIsaac & Partners raised its stake in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. TCTC Holdings LLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $29,000. Bfsg LLC boosted its holdings in shares of Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Sirius XM by 139.8% during the third quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock worth $75,000 after purchasing an additional 1,858 shares during the last quarter. Institutional investors and hedge funds 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.