Sirius XM (NASDAQ:SIRI) PT Raised to $28.00

Sirius XM (NASDAQ:SIRI) had its target price boosted by Rosenblatt Securities from $3.40 to $28.00 in a research report released on Monday morning, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the stock. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and lowered their price target for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Citigroup cut shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 target price for the company. in a research report on Thursday, July 25th. Guggenheim reduced their price target on Sirius XM from $33.00 to $29.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. StockNews.com assumed coverage on Sirius XM in a report on Monday, August 19th. They issued a hold rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $36.91.

Sirius XM Price Performance

SIRI opened at $24.02 on Monday. The stock has a market capitalization of $92.40 billion, a P/E ratio of 72.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. The company’s 50 day simple moving average is $31.58 and its 200-day simple moving average is $32.13. Sirius XM has a one year low of $22.73 and a one year high of $57.80.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. As a group, analysts anticipate that Sirius XM will post 3.14 EPS for the current year.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.266 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio (DPR) is 321.21%.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Berkshire Hathaway Inc grew its position in shares of 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. Point72 Asset Management L.P. bought a new position in Sirius XM during the second quarter worth about $12,858,000. Cubist Systematic Strategies LLC acquired a new position in Sirius XM during the second quarter worth approximately $5,192,000. SG Americas Securities LLC increased its position in Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Sirius XM in the second quarter valued at approximately $3,616,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

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.