StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

Equities researchers at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued on Wednesday. The firm set a “sell” rating on the stock.

Other research analysts also recently issued research reports about the stock. Guggenheim downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Barrington Research restated an “outperform” rating and set a $40.00 target price on shares of Sirius XM in a research report on Monday, November 4th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and an average target price of $28.96.

Sirius XM Stock Up 2.0 %

SIRI opened at $27.03 on Wednesday. The firm’s 50-day simple moving average is $25.68 and its 200-day simple moving average is $29.11. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of -4.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 2,646,761 shares of company stock valued at $65,952,329 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently made changes to their positions in the stock. Coston McIsaac & Partners boosted its holdings in shares of Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after buying an additional 624 shares during the last quarter. TCTC Holdings LLC acquired a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $29,000. Bfsg LLC boosted its holdings in shares of Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after buying an additional 1,315 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Sirius XM by 139.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock valued at $75,000 after purchasing an additional 1,858 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.