Sirius XM (NASDAQ:SIRI) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Sunday morning. The firm issued a hold rating on the stock.

A number of other equities analysts have also weighed in on SIRI. Wells Fargo & Company dropped 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. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and dropped their target price for the stock from $4.25 to $3.25 in a research report on Monday, June 24th. Barrington Research restated an outperform rating and set a $4.75 target price on shares of Sirius XM in a research report on Monday, July 15th. Seaport Res Ptn upgraded shares of Sirius XM from a neutral rating to a buy rating in a research report on Monday, April 29th. Finally, Guggenheim dropped their target price on shares of Sirius XM from $3.30 to $2.90 and set a neutral rating for the company in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $3.80.

Sirius XM Stock Performance

Shares of SIRI traded down $0.02 during mid-day trading on Friday, reaching $3.12. The stock had a trading volume of 2,182,609 shares, compared to its average volume of 25,698,701. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.06 and a beta of 1.08. Sirius XM has a 12 month low of $2.45 and a 12 month high of $5.78. The business has a fifty day moving average of $3.15 and a 200 day moving average of $3.59.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a $0.0266 dividend. This represents a $0.11 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, August 9th. Sirius XM’s dividend payout ratio is currently 30.30%.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total value of $32,797.16. Following the sale, the director now owns 181,827 shares of the company’s stock, valued at $476,386.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $3.16, for a total value of $4,573,272.08. Following the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total transaction of $32,797.16. Following the completion of the transaction, the director now directly owns 181,827 shares in the company, valued at approximately $476,386.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,472,274 shares of company stock valued at $4,638,616. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GM Advisory Group LLC increased its position in Sirius XM by 10.0% during the 4th quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after purchasing an additional 2,000 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of 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 in the last quarter. D.A. Davidson & CO. raised its position in Sirius XM by 14.8% during the 4th quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock worth $93,000 after buying an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Sirius XM by 0.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock worth $2,123,000 after buying an additional 2,300 shares during the last quarter. Finally, Gitterman Wealth Management LLC increased its holdings in shares of Sirius XM by 7.2% during the 4th quarter. Gitterman Wealth Management LLC now owns 38,410 shares of the company’s stock valued at $210,000 after purchasing an additional 2,566 shares in the last quarter. Hedge funds and other institutional investors 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.