Stock analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI - Get Free Report) in a report released on Wednesday. The brokerage set a "sell" rating on the stock.
Several other research analysts also recently weighed in on SIRI. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $28.00 target price on shares of Sirius XM in a report on Monday, November 4th. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Sirius XM in a report on Monday, November 4th. The Goldman Sachs Group dropped their target price on shares of Sirius XM from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Citigroup boosted their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a "sell" rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $28.96.
Read Our Latest Stock Analysis on SIRI
Sirius XM Price Performance
Sirius XM stock traded down $0.66 during mid-day trading on Wednesday, hitting $26.50. The stock had a trading volume of 3,693,116 shares, compared to its average volume of 3,542,761. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm's 50 day moving average is $25.74 and its 200 day moving average is $29.13. Sirius XM has a one year low of $22.18 and a one year high of $57.80.
Insider Activity at Sirius XM
In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares of the company's stock, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company's stock.
Hedge Funds Weigh In On Sirius XM
Several hedge funds have recently added to or reduced their stakes in SIRI. Coston McIsaac & Partners grew its stake in Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Mather Group LLC. bought a new position in Sirius XM in the 2nd quarter worth about $28,000. TCTC Holdings LLC bought a new position in Sirius XM in the 3rd quarter worth about $29,000. Princeton Global Asset Management LLC grew its stake in Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Walker Asset Management LLC bought a new position in Sirius XM in the 2nd quarter worth about $33,000. 10.69% of the stock is currently owned by institutional investors.
About Sirius XM
(
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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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