Sirius XM (NASDAQ:SIRI - Free Report) had its price target decreased by The Goldman Sachs Group from $26.00 to $23.00 in a research report released on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.
Several other analysts also recently commented on the company. StockNews.com assumed coverage on Sirius XM in a research note on Monday, October 28th. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Sirius XM from $37.50 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, August 6th. Guggenheim upgraded Sirius XM from a "neutral" rating to a "buy" rating and set a $30.00 price target on the stock in a research note on Wednesday, September 18th. Bank of America restated an "underperform" rating and issued a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. Finally, Benchmark restated a "buy" rating and issued a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $28.88.
View Our Latest Report on Sirius XM
Sirius XM Stock Down 6.2 %
SIRI stock traded down $1.72 on Monday, reaching $25.93. 9,638,533 shares of the company traded hands, compared to its average volume of 3,484,790. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. The company has a market cap of $9.98 billion, a P/E ratio of -4.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The firm has a fifty day simple moving average of $26.52 and a 200-day simple moving average of $29.35.
Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a positive return on equity of 68.38% and a negative net margin of 23.02%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Research analysts anticipate that Sirius XM will post 3.04 earnings per share for the current year.
Sirius XM Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Sirius XM's previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.17%. Sirius XM's dividend payout ratio (DPR) is currently -16.72%.
Insider Buying and Selling at Sirius XM
In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares of the company's stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the acquisition, the insider now owns 110,276,790 shares of the company's stock, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 2,646,761 shares of company stock valued at $65,952,329 over the last ninety days. 0.79% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sirius XM
Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Sirius XM by 2.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,099,258 shares of the company's stock valued at $8,145,000 after buying an additional 50,323 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Sirius XM by 32.9% during the first quarter. Principal Financial Group Inc. now owns 54,026 shares of the company's stock valued at $210,000 after buying an additional 13,364 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Sirius XM during the first quarter valued at approximately $2,036,000. Janney Montgomery Scott LLC grew its stake in shares of Sirius XM by 239.2% during the first quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company's stock valued at $703,000 after buying an additional 127,689 shares during the last quarter. Finally, Graypoint LLC bought a new position in shares of Sirius XM during the first quarter valued at approximately $39,000. 10.69% of the stock is owned by institutional investors.
Sirius XM Company Profile
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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.
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