Sirius XM (NASDAQ:SIRI) PT Lowered to $3.40

Sirius XM (NASDAQ:SIRI) had its target price decreased by analysts at Rosenblatt Securities from $4.50 to $3.40 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target suggests a potential upside of 15.65% from the company’s current price.

Several other research analysts also recently weighed in on SIRI. Guggenheim began coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target for the company. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $4.10 to $3.30 in a research report on Wednesday, April 24th. Benchmark reduced their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. StockNews.com initiated coverage on shares of Sirius XM in a research note on Monday. They set a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.46.

Sirius XM Stock Performance

SIRI opened at $2.94 on Wednesday. The business’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $4.58. Sirius XM has a one year low of $2.92 and a one year high of $7.95. The stock has a market capitalization of $11.31 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts forecast that Sirius XM will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds have recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Sirius XM during the 3rd quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM during the 4th quarter worth $27,000. First PREMIER Bank purchased a new stake in shares of Sirius XM during the 1st quarter worth $31,000. First United Bank & Trust purchased a new stake in Sirius XM in the fourth quarter valued at about $37,000. Finally, TFO Wealth Partners LLC grew its holdings in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

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.