Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) were down 5% on Monday after The Goldman Sachs Group lowered their price target on the stock from $26.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. Sirius XM traded as low as $26.26 and last traded at $26.27. Approximately 3,756,023 shares were traded during trading, an increase of 9% from the average daily volume of 3,457,173 shares. The stock had previously closed at $27.65.
SIRI has been the subject of several other research reports. 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. Benchmark restated a "buy" rating and issued a $43.00 target price on shares of Sirius XM in a report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They set an "underweight" rating and a $20.00 price target on the stock. Citigroup upped their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a "sell" rating in a research note on Thursday, September 26th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.88.
View Our Latest Analysis on SIRI
Insider Transactions at Sirius XM
In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. 0.79% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sirius XM
A number of hedge funds and other institutional investors have recently bought and sold shares of SIRI. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Sirius XM by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,099,258 shares of the company's stock valued at $8,145,000 after acquiring an additional 50,323 shares during the period. Norden Group LLC raised its holdings in Sirius XM by 1,559.4% during the first quarter. Norden Group LLC now owns 242,172 shares of the company's stock worth $940,000 after purchasing an additional 227,578 shares during the last quarter. Principal Financial Group Inc. boosted its position in Sirius XM by 32.9% during the first quarter. Principal Financial Group Inc. now owns 54,026 shares of the company's stock worth $210,000 after purchasing an additional 13,364 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Sirius XM in the first quarter valued at $2,036,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Sirius XM by 239.2% in 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 in the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.
Sirius XM Stock Down 6.2 %
The firm has a market cap of $9.98 billion, a price-to-earnings ratio of -4.09, a P/E/G ratio of 1.32 and a beta of 1.04. The firm has a 50 day moving average price of $26.52 and a 200-day moving average price of $29.35. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93.
Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 3.04 EPS for the current year.
Sirius XM Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.17%. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's dividend payout ratio is presently -16.72%.
Sirius XM Company Profile
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Get Free Report)
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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