Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Price Target at $27.58

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been given a consensus rating of “Reduce” by the fourteen research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.58.

Several equities analysts have commented on SIRI shares. Bank of America restated an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. Rosenblatt Securities upped their price target on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Pivotal Research decreased their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. StockNews.com assumed coverage on shares of Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. The trade was a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SIRI. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter worth about $12,858,000. Sessa Capital IM L.P. acquired a new position in Sirius XM during the 3rd quarter worth approximately $77,983,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $67,598,000. Seizert Capital Partners LLC purchased a new stake in shares of Sirius XM in the third quarter valued at approximately $46,173,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Sirius XM in the second quarter valued at approximately $5,192,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Trading Down 3.1 %

NASDAQ SIRI opened at $22.10 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of -3.49 and a beta of 1.03. The firm has a 50 day simple moving average of $25.44 and a 200-day simple moving average of $28.19. Sirius XM has a one year low of $20.47 and a one year high of $55.50.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.89%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is -17.03%.

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.