Sirius XM (NASDAQ:SIRI) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued an underweight rating and a $20.00 price objective on the stock.

Several other brokerages have also recently issued reports on SIRI. Barrington Research reissued an outperform rating and set a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Benchmark reduced their target price on shares of Sirius XM from $65.00 to $43.00 and set a buy rating for the company in a report on Tuesday, October 8th. Citigroup lifted their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a sell rating in a report on Thursday, September 26th. StockNews.com initiated coverage on shares of Sirius XM in a report on Friday, October 4th. They issued a hold rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sirius XM currently has an average rating of Hold and an average price target of $31.25.

Sirius XM Trading Up 2.6 %

NASDAQ:SIRI opened at $24.93 on Wednesday. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The firm has a fifty day simple moving average of $27.66 and a 200-day simple moving average of $30.22. The company has a market capitalization of $9.60 billion, a P/E ratio of 7.55, a PEG ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Equities analysts forecast that Sirius XM will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.266 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a yield of 4.27%. Sirius XM’s payout ratio is presently 32.12%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after buying an additional 363,551 shares during the period. Berkshire Hathaway Inc raised its position in Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. Point72 Asset Management L.P. purchased a new stake in Sirius XM in the second quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Sirius XM by 14.5% during the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after buying an additional 490,761 shares during the period. Hedge funds and other 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.