Sirius XM (NASDAQ:SIRI) Upgraded to “Buy” by Seaport Res Ptn

Seaport Res Ptn upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research note published on Monday morning, Zacks.com reports.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company dropped their target price on Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a report on Monday, April 1st. Benchmark cut their target price on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Pivotal Research raised Sirius XM from a hold rating to a buy rating and dropped their price objective for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. StockNews.com began coverage on Sirius XM in a research report on Monday. They issued a hold rating for the company. Finally, Citigroup raised shares of Sirius XM from a sell rating to a neutral rating and dropped their price target for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $4.67.

Sirius XM Price Performance

NASDAQ:SIRI opened at $3.17 on Monday. The firm’s 50-day moving average price is $3.82 and its 200-day moving average price is $4.59. The company has a market capitalization of $12.19 billion, a PE ratio of 9.91, a P/E/G ratio of 1.02 and a beta of 1.04. Sirius XM has a 1-year low of $2.97 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Equities analysts anticipate that Sirius XM will post 0.29 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, May 9th. Sirius XM’s payout ratio is currently 34.38%.

Insiders Place Their Bets

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently bought and sold shares of SIRI. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after purchasing an additional 30,559,834 shares in the last quarter. AQR Capital Management LLC boosted its stake in Sirius XM by 482.9% during the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after buying an additional 12,129,166 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Sirius XM by 169.6% during 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 buying an additional 6,482,109 shares in the last quarter. Cadian Capital Management LP bought a new stake in Sirius XM in the 3rd quarter worth approximately $8,929,000. Finally, Northern Trust Corp increased its stake in Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after acquiring an additional 1,776,700 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

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.