Sirius XM (NASDAQ:SIRI) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Sirius XM (NASDAQ:SIRI) from an underweight rating to a neutral rating in a report published on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $24.00 target price on the stock, up from their prior target price of $20.00.

Other research analysts also recently issued research reports about the company. Moffett Nathanson assumed coverage on Sirius XM in a research note on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Sirius XM in a report on Friday, October 31st. UBS Group set a $24.00 price objective on Sirius XM in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research note on Thursday, February 5th. Finally, Weiss Ratings lowered shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $24.44.

Sirius XM Price Performance

SIRI stock opened at $21.70 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.30 and a quick ratio of 0.30. Sirius XM has a 1 year low of $18.69 and a 1 year high of $27.41. The company’s 50-day moving average is $20.98 and its 200-day moving average is $21.79. The stock has a market capitalization of $7.26 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.38 and a beta of 0.93.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Sirius XM’s dividend payout ratio is 48.21%.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently made changes to their positions in SIRI. Brighton Jones LLC purchased a new stake in shares of Sirius XM in the fourth quarter worth approximately $622,000. Hsbc Holdings PLC grew its position in Sirius XM by 779.4% in the 2nd quarter. Hsbc Holdings PLC now owns 115,237 shares of the company’s stock valued at $2,639,000 after acquiring an additional 102,133 shares during the last quarter. SG Americas Securities LLC grew its position in Sirius XM by 292.5% in the 3rd quarter. SG Americas Securities LLC now owns 113,728 shares of the company’s stock valued at $2,647,000 after acquiring an additional 84,751 shares during the last quarter. Tweedy Browne Co LLC purchased a new stake in Sirius XM in the second quarter worth $289,000. Finally, CWM LLC lifted its position in shares of Sirius XM by 126.3% during the second quarter. CWM LLC now owns 120,436 shares of the company’s stock worth $2,766,000 after purchasing an additional 67,222 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

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.