Sirius XM (NASDAQ:SIRI) Upgraded by Wells Fargo & Company to “Hold” Rating

Wells Fargo & Company upgraded shares of Sirius XM (NASDAQ:SIRI) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other research firms also recently commented on SIRI. Rosenblatt Securities dropped their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Barrington Research increased their target price on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Guggenheim restated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Finally, Citigroup reaffirmed a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.09.

Sirius XM Price Performance

SIRI opened at $31.22 on Monday. The company has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $25.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM has a 52 week low of $19.76 and a 52 week high of $31.49. The firm has a market capitalization of $10.51 billion, a PE ratio of 13.17, a P/E/G ratio of 0.64 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, analysts anticipate that Sirius XM will post 3.1 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. Sirius XM’s payout ratio is 45.57%.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Valeo Financial Advisors LLC grew its stake in Sirius XM by 3.2% in the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after acquiring an additional 340 shares during the period. Altshuler Shaham Ltd raised its position in shares of Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after purchasing an additional 509 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Sirius XM by 28.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,562 shares of the company’s stock valued at $76,000 after purchasing an additional 560 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.