Sirius XM (NASDAQ:SIRI) Given New $29.00 Price Target at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its price target lifted by Rosenblatt Securities from $28.00 to $29.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently weighed in on the company. Bank of America reissued an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Pivotal Research decreased their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Morgan Stanley restated an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $28.27.

Sirius XM Trading Down 2.8 %

Shares of NASDAQ SIRI opened at $24.11 on Wednesday. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The firm has a market capitalization of $8.18 billion, a P/E ratio of -3.80 and a beta of 1.03. 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 company’s 50 day simple moving average is $26.35 and its 200 day simple moving average is $28.55.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.27 dividend. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s payout ratio is currently -17.03%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of institutional investors have recently made changes to their positions in the business. Coston McIsaac & Partners increased its stake in 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 bought a new position in shares of Sirius XM in the 3rd quarter valued at about $29,000. Bfsg LLC increased its position in shares of Sirius XM by 35.3% in the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC raised its holdings 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 acquiring an additional 1,315 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Sirius XM by 139.8% during the third 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 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.