Sirius XM (NASDAQ:SIRI) Raised to Neutral at Citigroup

Sirius XM (NASDAQ:SIRI) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $3.30 price objective on the stock, down from their prior price objective of $4.10. Citigroup’s price target indicates a potential upside of 4.43% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Guggenheim initiated coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. Benchmark lowered their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, StockNews.com assumed coverage on shares of Sirius XM in a report on Sunday. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $4.67.

Sirius XM Trading Up 1.0 %

Shares of SIRI stock opened at $3.16 on Wednesday. Sirius XM has a 1 year low of $3.04 and a 1 year high of $7.95. The firm’s fifty day moving average price is $3.96 and its two-hundred day moving average price is $4.63. The firm has a market capitalization of $12.15 billion, a P/E ratio of 9.88, a PEG ratio of 1.05 and a beta of 1.04.

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

Insider Activity

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc increased its position in Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after acquiring an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its position in Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after acquiring an additional 12,129,166 shares during the period. Northern Trust Corp increased its position in Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after acquiring an additional 1,776,700 shares during the period. Finally, New York State Common Retirement Fund increased its position in Sirius XM by 169.6% in the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after acquiring an additional 6,482,109 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.