Benchmark Trims Sirius XM (NASDAQ:SIRI) Target Price to $6.50

Sirius XM (NASDAQ:SIRI) had its target price trimmed by Benchmark from $7.00 to $6.50 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on SIRI. Citigroup upped their price target on shares of Sirius XM from $3.60 to $4.10 and gave the company a sell rating in a research note on Friday, January 12th. Guggenheim started coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price target on the stock. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, March 20th. They issued a hold rating on the stock. Finally, Wells Fargo & Company restated an underweight rating and issued a $4.50 price target (down from $5.00) on shares of Sirius XM in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $4.84.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.88 on Wednesday. The firm has a fifty day moving average price of $4.61 and a 200 day moving average price of $4.73. Sirius XM has a fifty-two week low of $3.32 and a fifty-two week high of $7.95. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.32 and a beta of 1.05.

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

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s payout ratio is 34.38%.

Insiders Place Their Bets

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were 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 in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Institutional Trading of Sirius XM

A number of institutional investors have recently modified their holdings of SIRI. HighPoint Advisor Group LLC purchased a new position in shares of Sirius XM in the 4th quarter valued at approximately $93,000. Sivia Capital Partners LLC purchased a new position in shares of Sirius XM in the 4th quarter valued at approximately $77,000. Vanguard Group Inc. raised its position in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Sirius XM in the 4th quarter valued at approximately $48,000. Finally, American International Group Inc. raised its position in shares of Sirius XM by 1.8% in the 4th quarter. American International Group Inc. now owns 272,061 shares of the company’s stock valued at $1,488,000 after purchasing an additional 4,846 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Company Profile

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.