Barrington Research Cuts Sirius XM (NASDAQ:SIRI) Price Target to $30.00

Sirius XM (NASDAQ:SIRI - Get Free Report) had its target price decreased by investment analysts at Barrington Research from $40.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's target price points to a potential upside of 24.43% from the stock's previous close.

SIRI has been the subject of a number of other reports. StockNews.com initiated coverage on Sirius XM in a research note on Wednesday, November 13th. They set a "sell" rating for the company. Citigroup upped their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a "sell" rating in a research report on Thursday, September 26th. Bank of America restated an "underperform" rating and set a $23.00 price objective on shares of Sirius XM in a research report on Thursday, October 24th. Guggenheim restated a "buy" rating and set a $30.00 target price on shares of Sirius XM in a research note on Wednesday. Finally, Benchmark reiterated a "buy" rating and issued a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.27.

Sirius XM Stock Performance

SIRI stock traded down $0.70 during midday trading on Friday, reaching $24.11. 5,552,225 shares of the company's stock traded hands, compared to its average volume of 3,661,209. The stock's 50-day moving average is $26.32 and its 200 day moving average is $28.58. The stock has a market cap of $8.18 billion, a P/E ratio of -3.84 and a beta of 1.03. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares of the company's stock, valued at approximately $2,712,541,245.60. This trade represents a 1.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of SIRI. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $12,858,000. Sessa Capital IM L.P. purchased a new position in Sirius XM during the 3rd quarter worth approximately $77,983,000. Thompson Siegel & Walmsley LLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $67,598,000. Seizert Capital Partners LLC purchased a new stake in shares of Sirius XM in the 3rd quarter valued at $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Sirius XM in the second quarter worth $5,192,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

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.