BidaskClub upgraded shares of Sirius XM (NASDAQ:SIRI) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.
A number of other research analysts have also recently commented on SIRI. JPMorgan Chase & Co. cut Sirius XM from a neutral rating to an underweight rating and cut their target price for the company from $5.36 to $5.00 in a research note on Tuesday, January 2nd. Barrington Research cut Sirius XM from an outperform rating to a market perform rating in a research note on Tuesday, January 2nd. Zacks Investment Research cut Sirius XM from a hold rating to a sell rating in a research note on Friday, January 5th. Royal Bank of Canada set a $6.00 price objective on Sirius XM and gave the stock a hold rating in a research note on Thursday, January 11th. Finally, Deutsche Bank raised Sirius XM from a hold rating to a buy rating and increased their price objective for the stock from $5.25 to $6.50 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $6.21.
NASDAQ:SIRI opened at $6.24 on Tuesday. The company has a market cap of $28,029.23, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. Sirius XM has a one year low of $4.73 and a one year high of $6.62. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42.
Sirius XM announced that its board has authorized a share repurchase program on Tuesday, January 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Sirius XM news, VP Thomas D. Barry sold 175,777 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the sale, the vice president now owns 551,815 shares in the company, valued at $3,371,589.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joan Lordi Amble sold 73,961 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total value of $480,746.50. Following the sale, the director now owns 101,174 shares of the company’s stock, valued at approximately $657,631. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,113,308 shares of company stock valued at $6,822,521. 1.06% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Sirius XM by 268.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 697,797 shares of the company’s stock worth $3,740,000 after buying an additional 508,632 shares during the period. D.B. Root & Company LLC purchased a new stake in Sirius XM during the fourth quarter worth $185,000. Xact Kapitalforvaltning AB lifted its holdings in Sirius XM by 14.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 153,279 shares of the company’s stock worth $822,000 after buying an additional 19,533 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Sirius XM by 16.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,496,257 shares of the company’s stock worth $8,020,000 after buying an additional 206,315 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Sirius XM by 401.3% during the fourth quarter. Macquarie Group Ltd. now owns 92,200 shares of the company’s stock worth $811,000 after buying an additional 73,808 shares during the period. Institutional investors own 20.02% of the company’s stock.
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Sirius XM Company Profile
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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