Sirius XM (NASDAQ:SIRI) Stock Rating Upgraded by Pivotal Research

Pivotal Research upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports. Pivotal Research currently has $4.90 price objective on the stock, down from their prior price objective of $5.05.

A number of other research firms have also recently issued reports on SIRI. StockNews.com assumed coverage on Sirius XM in a research note on Sunday, April 21st. They set a hold rating for the company. Wells Fargo & Company decreased their price target on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a research note on Monday, April 1st. Benchmark decreased their price target on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research note on Wednesday, March 27th. Citigroup raised shares of Sirius XM from a sell rating to a neutral rating and decreased their price target for the stock from $4.10 to $3.30 in a research note on Wednesday. Finally, Guggenheim began coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $4.67.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.02 on Wednesday. The business has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $4.60. Sirius XM has a 52-week low of $2.97 and a 52-week high of $7.95. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.07 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, analysts predict that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued a $0.0266 dividend. This represents a $0.11 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Thursday, May 9th. Sirius XM’s payout ratio is presently 34.38%.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC acquired a new stake in Sirius XM during the 1st quarter valued at $55,000. Prairiewood Capital LLC acquired a new stake in Sirius XM during the 1st quarter valued at $47,000. Quantum Financial Advisors LLC lifted its holdings in Sirius XM by 36.8% during the 1st quarter. Quantum Financial Advisors LLC now owns 15,553 shares of the company’s stock valued at $60,000 after purchasing an additional 4,184 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Sirius XM by 21.2% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 369,428 shares of the company’s stock valued at $1,433,000 after purchasing an additional 64,600 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Sirius XM during the first quarter worth $63,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.