Sirius XM (NASDAQ:SIRI - Free Report) had its price objective trimmed by Wells Fargo & Company from $22.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.
Several other brokerages also recently issued reports on SIRI. Pivotal Research decreased their target price on Sirius XM from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Citigroup boosted their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a "sell" rating in a report on Thursday, September 26th. Morgan Stanley reiterated an "underweight" rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Bank of America reissued an "underperform" rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Finally, StockNews.com started coverage on Sirius XM in a research note on Wednesday, November 13th. They issued a "sell" rating on the stock. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sirius XM presently has a consensus rating of "Hold" and an average target price of $27.58.
Check Out Our Latest Stock Analysis on SIRI
Sirius XM Stock Performance
NASDAQ SIRI traded down $0.93 on Thursday, reaching $20.58. 10,821,047 shares of the stock were exchanged, compared to its average volume of 3,759,537. The firm has a market capitalization of $6.98 billion, a PE ratio of -3.25 and a beta of 1.03. Sirius XM has a one year low of $20.47 and a one year high of $56.80. The company's 50-day simple moving average is $26.20 and its two-hundred day simple moving average is $28.39. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.
Sirius XM Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 5.25%. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's dividend payout ratio is currently -17.03%.
Insiders Place Their Bets
In related news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the transaction, the insider now owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by insiders.
Institutional Investors Weigh In On Sirius XM
Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in Sirius XM during the second quarter worth $12,858,000. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 353,860 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company's stock worth $10,807,000 after purchasing an additional 490,761 shares during the last quarter. Sessa Capital IM L.P. purchased a new position in Sirius XM in the 3rd quarter valued at about $77,983,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Sirius XM in the third quarter worth approximately $67,598,000. Hedge funds and other institutional investors own 10.69% of the company's stock.
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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