Sirius XM (NASDAQ:SIRI) Price Target Cut to $29.00 by Analysts at Guggenheim

Sirius XM (NASDAQ:SIRI) had its target price cut by Guggenheim from $30.00 to $29.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on SIRI. The Goldman Sachs Group cut their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Rosenblatt Securities raised their price target on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their target price on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Finally, Benchmark reiterated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.35.

Sirius XM Price Performance

NASDAQ SIRI opened at $21.78 on Wednesday. The business’s fifty day moving average is $23.78 and its 200 day moving average is $27.01. Sirius XM has a fifty-two week low of $20.47 and a fifty-two week high of $53.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $7.39 billion, a PE ratio of -3.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Sirius XM Dividend Announcement

The company also recently disclosed 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. This represents a $1.08 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, February 7th. Sirius XM’s payout ratio is -17.03%.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legato Capital Management LLC lifted its stake in Sirius XM by 21.9% in the fourth quarter. Legato Capital Management LLC now owns 85,500 shares of the company’s stock worth $1,949,000 after purchasing an additional 15,342 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Sirius XM in the fourth quarter worth approximately $158,000. Mill Creek Capital Advisors LLC lifted its stake in shares of Sirius XM by 5.8% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 15,273 shares of the company’s stock worth $348,000 after acquiring an additional 837 shares during the last quarter. swisspartners Advisors Ltd boosted its holdings in Sirius XM by 4.3% during the 4th quarter. swisspartners Advisors Ltd now owns 145,478 shares of the company’s stock valued at $3,317,000 after acquiring an additional 5,975 shares during the period. Finally, MBA Advisors LLC bought a new position in Sirius XM in the 4th quarter valued at $228,000. Hedge funds and other institutional investors 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.