Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $36.91 Consensus PT from Brokerages

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.75.

A number of brokerages recently issued reports on SIRI. Rosenblatt Securities increased their target price on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, September 18th. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, September 18th. They issued a “hold” rating on the stock. Morgan Stanley reiterated an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a research note on Tuesday. Finally, Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price objective for the stock from $42.50 to $32.50 in a research note on Monday, June 24th.

Sirius XM Trading Down 5.8 %

NASDAQ:SIRI opened at $24.10 on Friday. The firm has a fifty day simple moving average of $30.78 and a two-hundred day simple moving average of $31.64. Sirius XM has a 12 month low of $22.73 and a 12 month high of $57.80. The stock has a market capitalization of $92.70 billion, a price-to-earnings ratio of 73.03, a PEG ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Equities analysts predict that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.266 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 annualized dividend and a yield of 4.41%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Buying and Selling

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Sirius XM in the second quarter valued at approximately $3,041,000. Point72 Asset Management L.P. bought a new position in shares of Sirius XM in the second quarter worth $12,858,000. Creative Planning lifted its holdings in Sirius XM by 12.1% during the 2nd quarter. Creative Planning now owns 844,387 shares of the company’s stock worth $2,390,000 after purchasing an additional 91,223 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Sirius XM by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 282,600 shares of the company’s stock valued at $800,000 after buying an additional 76,552 shares during the period. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Sirius XM by 44.5% in the second quarter. Dark Forest Capital Management LP now owns 100,688 shares of the company’s stock worth $285,000 after buying an additional 31,000 shares in the last quarter. Hedge funds and other institutional investors 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.