Sirius XM (NASDAQ:SIRI) Rating Increased to Hold at Wells Fargo & Company

Sirius XM (NASDAQ:SIRI) was upgraded by analysts at Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Citigroup reiterated a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Barrington Research upped their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Guggenheim reissued a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average target price of $29.09.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $31.22 on Monday. Sirius XM has a one year low of $19.76 and a one year high of $31.49. The stock has a fifty day moving average of $29.08 and a 200-day moving average of $25.08. The company has a market capitalization of $10.51 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. As a group, equities analysts anticipate that Sirius XM will post 3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently bought and sold shares of SIRI. Brighton Jones LLC purchased a new position in Sirius XM during the 4th quarter valued at about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after purchasing an additional 92,111 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after purchasing an additional 800 shares during the period. Geneos Wealth Management Inc. grew its position in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Sirius XM during the second quarter valued at approximately $208,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.