Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Target Price at $27.58

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a consensus rating of “Reduce” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $27.42.

SIRI has been the subject of several analyst reports. Pivotal Research lowered their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Finally, Guggenheim reiterated a “buy” rating and set a $30.00 price target on shares of Sirius XM in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. acquired a new position in Sirius XM during the 4th quarter valued at about $115,000. State of Alaska Department of Revenue boosted its stake in Sirius XM by 21.2% during the 4th quarter. State of Alaska Department of Revenue now owns 234,242 shares of the company’s stock valued at $5,340,000 after purchasing an additional 41,000 shares during the last quarter. Optimist Retirement Group LLC bought a new position in shares of Sirius XM during the 4th quarter worth approximately $202,000. Ninety One UK Ltd bought a new position in shares of Sirius XM during the 4th quarter worth approximately $4,038,000. Finally, Spire Wealth Management bought a new position in shares of Sirius XM during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Stock Down 0.3 %

Shares of NASDAQ:SIRI opened at $21.89 on Thursday. The firm has a market cap of $7.43 billion, a P/E ratio of -3.45, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a 12-month low of $20.47 and a 12-month high of $53.50. The business has a fifty day simple moving average of $23.91 and a 200 day simple moving average of $27.21.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a yield of 4.93%. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

About Sirius XM

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.