Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Price Target at $4.74

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.67.

SIRI has been the subject of several analyst reports. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their price target for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Guggenheim initiated coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price for the company. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the company from $4.10 to $3.30 in a research note on Wednesday, April 24th. StockNews.com assumed coverage on Sirius XM in a research report on Monday. They set a “hold” rating for the company. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on 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 owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director James E. Meyer sold 800,000 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the 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 sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $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 large investors have recently modified their holdings of SIRI. Commonwealth Equity Services LLC lifted its holdings in shares of Sirius XM by 6.1% during the first quarter. Commonwealth Equity Services LLC now owns 787,856 shares of the company’s stock valued at $3,057,000 after purchasing an additional 45,483 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Sirius XM by 32.9% during the first quarter. Principal Financial Group Inc. now owns 54,026 shares of the company’s stock valued at $210,000 after buying an additional 13,364 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Sirius XM by 125.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,332 shares of the company’s stock valued at $67,000 after buying an additional 9,631 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in shares of Sirius XM in the first quarter worth about $55,000. Finally, Prairiewood Capital LLC purchased a new position in shares of Sirius XM in the first quarter worth approximately $47,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Up 5.0 %

Shares of NASDAQ SIRI opened at $3.17 on Tuesday. The stock has a market capitalization of $12.19 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.02 and a beta of 1.04. The firm’s 50-day moving average price is $3.82 and its two-hundred day moving average price is $4.59. Sirius XM has a 52-week low of $2.97 and a 52-week 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, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. As a group, equities research analysts expect that Sirius XM will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, May 9th. Sirius XM’s payout ratio is currently 34.38%.

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.