Sirius XM (NASDAQ:SIRI) Cut to Hold at Guggenheim

Sirius XM (NASDAQ:SIRI - Get Free Report) was downgraded by analysts at Guggenheim from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

SIRI has been the topic of several other reports. Pivotal Research dropped their price target on Sirius XM from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Sirius XM from $37.50 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Barrington Research reissued an "outperform" rating and set a $40.00 price objective on shares of Sirius XM in a report on Monday. Benchmark reissued a "buy" rating and set a $43.00 price objective on shares of Sirius XM in a report on Tuesday, October 15th. Finally, StockNews.com began coverage on Sirius XM in a report on Tuesday. They set a "hold" rating on the stock. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.96.

Sirius XM Stock Performance

Shares of SIRI stock traded up $0.01 during trading on Wednesday, reaching $26.13. The company had a trading volume of 3,903,773 shares, compared to its average volume of 3,511,415. 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 firm's 50 day simple moving average is $26.19 and its two-hundred day simple moving average is $29.26. The company has a market capitalization of $8.86 billion, a PE ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04. Sirius XM has a one year low of $22.18 and a one year high of $57.80.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $27.43 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter worth about $12,858,000. Dimensional Fund Advisors LP boosted its position in shares of Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company's stock worth $12,260,000 after buying an additional 353,860 shares during the period. AQR Capital Management LLC boosted its position in shares of Sirius XM by 14.5% during the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company's stock worth $10,807,000 after buying an additional 490,761 shares during the period. ProShare Advisors LLC boosted its position in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company's stock worth $14,542,000 after buying an additional 768,570 shares during the period. Finally, AustralianSuper Pty Ltd boosted its position in Sirius XM by 58.6% during the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company's stock valued at $6,911,000 after purchasing an additional 902,079 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

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.