Sirius XM (NASDAQ:SIRI) Upgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a research report report published on Wednesday, MarketBeat.com reports. The Goldman Sachs Group currently has $3.25 price objective on the stock, down from their prior price objective of $3.50.

Other analysts also recently issued research reports about the company. StockNews.com assumed coverage on Sirius XM in a research report on Monday, April 29th. They issued a hold rating for the company. Barrington Research reaffirmed an outperform rating and set a $5.75 target price on shares of Sirius XM in a report on Tuesday, April 30th. Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a research note on Monday, April 29th. Guggenheim began coverage on Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price objective on the stock. Finally, Pivotal Research raised Sirius XM from a hold rating to a buy rating and lowered their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $4.42.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $3.12 on Wednesday. The company’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.54. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.10. Sirius XM has a one year low of $2.92 and a one year high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts expect that Sirius XM will post 0.3 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’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 of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM 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 transaction, the director now directly 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. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Sirius XM by 152.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock worth $79,000 after buying an additional 12,358 shares during the last quarter. Graypoint LLC purchased a new stake in shares of Sirius XM in the first quarter worth $39,000. Janney Montgomery Scott LLC grew its stake in shares of Sirius XM by 239.2% in the first quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after acquiring an additional 127,689 shares during the last quarter. Source Financial Advisors LLC increased its holdings in shares of Sirius XM by 350.8% during the first quarter. Source Financial Advisors LLC now owns 170,215 shares of the company’s stock valued at $660,000 after acquiring an additional 132,455 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Sirius XM in the 1st quarter worth about $2,036,000. Institutional investors own 10.69% of the company’s stock.

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.