Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $27.58 Average Price Target from Analysts

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

Several research firms have recently issued reports on SIRI. Pivotal Research lowered their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. StockNews.com initiated coverage on Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. Finally, Guggenheim restated a “buy” rating and issued a $30.00 target price on shares of Sirius XM in a research note on Wednesday, December 11th.

Sirius XM Trading Up 1.2 %

Shares of Sirius XM stock opened at $22.36 on Friday. The stock has a market capitalization of $7.58 billion, a P/E ratio of -3.53 and a beta of 1.03. Sirius XM has a 52-week low of $20.47 and a 52-week high of $55.50. 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 stock’s 50-day simple moving average is $25.36 and its 200 day simple moving average is $28.16.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.83%. Sirius XM’s payout ratio is presently -17.03%.

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 2,646,761 shares of company stock valued at $65,952,329 in the last quarter. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in Sirius XM during the second quarter valued at approximately $58,000. Commonwealth Equity Services LLC lifted its stake in Sirius XM by 13.7% in the second quarter. Commonwealth Equity Services LLC now owns 895,927 shares of the company’s stock worth $2,535,000 after purchasing an additional 108,071 shares during the last quarter. Van ECK Associates Corp boosted its position in Sirius XM by 13.8% during the second quarter. Van ECK Associates Corp now owns 597,185 shares of the company’s stock valued at $1,690,000 after buying an additional 72,528 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Sirius XM during the second quarter valued at about $159,000. Finally, PACK Private Wealth LLC bought a new position in shares of Sirius XM during the second quarter valued at about $53,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

About Sirius XM

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.