Sirius XM (NASDAQ:SIRI) Given Buy Rating at Guggenheim

Sirius XM (NASDAQ:SIRI)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 price objective on the stock. Guggenheim’s price target points to a potential upside of 21.31% from the stock’s previous close.

SIRI has been the subject of several other reports. StockNews.com started coverage on Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating for the company. Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a report on Thursday, September 26th. Finally, Pivotal Research dropped their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $29.04.

Sirius XM Price Performance

SIRI stock traded down $0.49 during mid-day trading on Wednesday, hitting $24.73. 2,313,972 shares of the stock were exchanged, compared to its average volume of 3,630,637. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of -3.90 and a beta of 1.03. The business has a fifty day moving average price of $26.25 and a 200 day moving average price of $28.63. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the transaction, the insider now owns 110,276,790 shares of the company’s stock, valued at approximately $3,024,892,349.70. This represents a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 2,646,761 shares of company stock valued at $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several hedge funds have recently modified their holdings of the company. Coston McIsaac & Partners lifted its position in Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. TCTC Holdings LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at about $29,000. Bfsg LLC increased its stake in Sirius XM by 35.3% during the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Sirius XM by 139.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock worth $75,000 after acquiring an additional 1,858 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.