Sirius XM (NASDAQ:SIRI) Upgraded to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $3.25 price objective on the stock, down from their previous price objective of $3.50.

A number of other research firms have also recently commented on SIRI. StockNews.com initiated coverage on shares of Sirius XM in a report on Monday, April 29th. They issued a hold rating on the stock. Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a research note on Monday, April 29th. Guggenheim assumed 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 upgraded Sirius XM from a sell rating to a neutral rating and reduced their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $4.42.

Sirius XM Price Performance

Sirius XM stock opened at $3.12 on Wednesday. Sirius XM has a 1-year low of $2.92 and a 1-year high of $7.95. The company’s 50-day moving average is $3.69 and its 200 day moving average is $4.54. The firm has a market capitalization of $12.00 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. Sirius XM’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. Research analysts anticipate that Sirius XM will post 0.3 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s payout ratio is currently 33.33%.

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 dated 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 completion of the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on 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 approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Sirius XM

Several institutional investors have recently added to or reduced their stakes in the business. BKM Wealth Management LLC purchased a new position in Sirius XM in the 4th quarter worth $27,000. Truvestments Capital LLC purchased a new position in shares of Sirius XM in the third quarter worth about $27,000. First United Bank & Trust acquired a new stake in shares of Sirius XM during the fourth quarter worth about $37,000. TFO Wealth Partners LLC boosted its holdings in shares of Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after acquiring an additional 7,028 shares during the last quarter. Finally, American National Bank purchased a new stake in Sirius XM in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.