Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a $7.00 price target by equities research analysts at Piper Jaffray Companies in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. Piper Jaffray Companies’ price target would indicate a potential upside of 22.59% from the stock’s current price.

SIRI has been the topic of several other research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $5.50 price objective on shares of Sirius XM Holdings in a report on Friday, June 16th. Vetr lowered Sirius XM Holdings from a “strong-buy” rating to a “buy” rating and set a $5.79 price objective on the stock. in a report on Monday, June 19th. BidaskClub raised Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Sirius XM Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Macquarie reaffirmed a “buy” rating and set a $6.00 price objective (up previously from $5.65) on shares of Sirius XM Holdings in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.96.

Sirius XM Holdings (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. Sirius XM Holdings had a negative return on equity of 99.07% and a net margin of 15.47%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.04 earnings per share. Sirius XM Holdings’s quarterly revenue was up 9.1% on a year-over-year basis.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Sirius XM Holdings by 21.3% during the second quarter. Victory Capital Management Inc. now owns 361,743 shares of the company’s stock worth $1,979,000 after buying an additional 63,445 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Sirius XM Holdings by 17.2% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 533,483 shares of the company’s stock worth $2,918,000 after buying an additional 78,260 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Sirius XM Holdings by 1.5% during the second quarter. Legal & General Group Plc now owns 7,628,218 shares of the company’s stock worth $41,726,000 after buying an additional 111,962 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Sirius XM Holdings by 603.6% during the second quarter. Engineers Gate Manager LP now owns 97,890 shares of the company’s stock worth $535,000 after buying an additional 83,978 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Sirius XM Holdings by 12.1% during the first quarter. UBS Group AG now owns 1,114,285 shares of the company’s stock worth $5,739,000 after buying an additional 119,915 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Holdings Company Profile

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

Analyst Recommendations for Sirius XM Holdings (NASDAQ:SIRI)

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