Sirius XM (NASDAQ:SIRI) Lowered to Hold Rating by Seaport Res Ptn

Sirius XM (NASDAQ:SIRI - Get Free Report) was downgraded by stock analysts at Seaport Res Ptn from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on SIRI. The Goldman Sachs Group lowered their price objective on shares of Sirius XM from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. StockNews.com assumed coverage on Sirius XM in a research report on Wednesday, November 13th. They set a "sell" rating for the company. Guggenheim restated a "buy" rating and issued a $30.00 price objective on shares of Sirius XM in a report on Wednesday. Morgan Stanley reaffirmed an "underweight" rating and issued a $23.00 price objective on shares of Sirius XM in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.04.

Sirius XM Trading Down 2.6 %

Shares of SIRI traded down $0.67 during mid-day trading on Tuesday, hitting $24.85. The company had a trading volume of 2,309,658 shares, compared to its average volume of 3,646,974. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The business's 50-day simple moving average is $26.29 and its 200-day simple moving average is $28.60. The stock has a market cap of $8.43 billion, a PE ratio of -4.02 and a beta of 1.03.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the company's stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares of the company's stock, valued at $2,712,541,245.60. This trade represents a 1.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders bought 2,646,761 shares of company stock valued at $65,952,329. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Sirius XM

A number of hedge funds have recently made changes to their positions in SIRI. Savant Capital LLC acquired a new position in Sirius XM in the second quarter worth about $613,000. FMR LLC increased its holdings in shares of Sirius XM by 472.6% in the 3rd quarter. FMR LLC now owns 497,514 shares of the company's stock valued at $11,766,000 after acquiring an additional 410,621 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Sirius XM during the 3rd quarter valued at approximately $921,000. Cetera Advisors LLC lifted its stake in Sirius XM by 102.8% during the first quarter. Cetera Advisors LLC now owns 36,295 shares of the company's stock worth $141,000 after purchasing an additional 18,401 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Sirius XM in the second quarter worth $59,000. Institutional investors and hedge funds own 10.69% of the company's stock.

Sirius XM Company Profile

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.