Sirius XM (NASDAQ:SIRI) Upgraded at Pivotal Research

Sirius XM (NASDAQ:SIRI) was upgraded by Pivotal Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $4.90 target price on the stock, down from their previous target price of $5.05. Pivotal Research’s price objective points to a potential upside of 55.06% from the stock’s current price.

SIRI has been the subject of several other reports. StockNews.com assumed coverage on Sirius XM in a research note on Sunday. They set a “hold” rating for the company. 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 research note on Monday, April 1st. Benchmark lowered their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and lowered their target price for the company from $4.10 to $3.30 in a research note on Wednesday. Finally, Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $4.67.

Sirius XM Trading Up 1.0 %

Shares of SIRI opened at $3.16 on Wednesday. The firm has a market capitalization of $12.15 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. The stock’s fifty day simple moving average is $3.96 and its 200 day simple moving average is $4.63. Sirius XM has a twelve month low of $3.04 and a twelve month high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sell-side analysts predict that Sirius XM will post 0.29 earnings per share for the current year.

Insider Activity at Sirius XM

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Sirius XM in the fourth quarter worth approximately $1,669,000. O Shaughnessy Asset Management LLC grew its position in Sirius XM by 16.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after purchasing an additional 3,495 shares in the last quarter. TIAA Trust National Association grew its position in Sirius XM by 92.9% during the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock worth $218,000 after purchasing an additional 19,161 shares in the last quarter. Finally, ING Groep NV purchased a new position in Sirius XM during the 3rd quarter worth approximately $2,110,000. 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.