Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Wednesday. The firm issued a sell rating on the stock.

Several other research firms have also weighed in on SIRI. JPMorgan Chase & Co. boosted 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. Bank of America reissued an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. Guggenheim downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley reissued an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Sirius XM in a research report on Monday, November 4th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.96.

Sirius XM Stock Down 2.4 %

SIRI stock opened at $26.50 on Wednesday. The firm has a 50 day moving average of $25.74 and a two-hundred day moving average of $29.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid 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 dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s payout ratio is -17.03%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the purchase, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders purchased 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in Sirius XM by 239.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock valued at $703,000 after purchasing an additional 127,689 shares during the period. Empowered Funds LLC acquired a new stake in shares of Sirius XM during the first quarter worth $48,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Sirius XM during the first quarter worth $322,000. State Board of Administration of Florida Retirement System lifted its holdings in Sirius XM by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,051,483 shares of the company’s stock valued at $4,174,000 after buying an additional 7,333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Sirius XM by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock valued at $2,250,000 after acquiring an additional 6,231 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.