Rosenblatt Securities Reaffirms Neutral Rating for Sirius XM (NASDAQ:SIRI)

Rosenblatt Securities restated their neutral rating on shares of Sirius XM (NASDAQ:SIRI) in a report issued on Tuesday, Benzinga reports. They currently have a $28.00 price target on the stock.

A number of other research firms have also recently commented on SIRI. StockNews.com started coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating on the stock. The Goldman Sachs Group lowered their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Benchmark reissued a “buy” rating and set a $43.00 target price on shares of Sirius XM in a report on Tuesday, October 15th. Morgan Stanley reissued an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Finally, Citigroup boosted their target price 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. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average price target of $29.69.

Sirius XM Trading Up 3.7 %

NASDAQ:SIRI opened at $27.65 on Tuesday. The stock has a market capitalization of $10.65 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.36 and a beta of 1.07. The firm’s 50 day moving average is $26.52 and its 200 day moving average is $29.38. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Research analysts predict that Sirius XM will post 3.04 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s payout ratio is 32.12%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was 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. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the transaction, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 2,646,761 shares of company stock worth $65,952,329 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Point72 Asset Management L.P. bought a new stake in Sirius XM in the second quarter worth $12,858,000. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 8.9% in 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 during the last quarter. AQR Capital Management LLC lifted its stake in Sirius XM by 14.5% in the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares during the last quarter. ProShare Advisors LLC lifted its stake in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after purchasing an additional 768,570 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in Sirius XM by 58.6% in the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after purchasing an additional 902,079 shares during the last quarter. 10.69% of the stock is currently 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.