Sirius XM (NASDAQ:SIRI) Trading Down 5% Following Analyst Downgrade

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price traded down 5% during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $26.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. Sirius XM traded as low as $26.26 and last traded at $26.27. 3,756,023 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 3,457,173 shares. The stock had previously closed at $27.65.

Several other research firms have also recently issued reports on SIRI. Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. StockNews.com assumed coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating for the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $28.00 price objective on shares of Sirius XM in a report on Monday. JPMorgan Chase & Co. began coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price for the company. Finally, Barrington Research reissued an “outperform” rating and set a $40.00 target price on shares of Sirius XM in a research note on Monday. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.88.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’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 transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Coston McIsaac & Partners increased its stake in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Sirius XM during the 2nd quarter worth $28,000. TCTC Holdings LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth $29,000. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Walker Asset Management LLC acquired a new position in shares of Sirius XM during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Trading Down 5.5 %

The company’s 50 day moving average price is $26.52 and its 200 day moving average price is $29.35. The company has a market cap of $10.06 billion, a price-to-earnings ratio of -4.12, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Research analysts anticipate that Sirius XM Holdings Inc. will post 3.04 EPS for the current year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.13%. Sirius XM’s dividend payout ratio (DPR) is presently -16.72%.

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.