Sirius XM (NASDAQ:SIRI – Get Free Report)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They presently have a $45.00 target price on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 44.14% from the company’s previous close.
A number of other equities research analysts have also recently commented on the stock. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 1st. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Morgan Stanley boosted their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Citigroup restated a “sell” rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average target price of $29.09.
Check Out Our Latest Research Report on Sirius XM
Sirius XM Stock Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.During the same period last year, the company earned $0.59 earnings per share. Sirius XM’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Sirius XM will post 3.1 EPS for the current year.
Insider Activity at Sirius XM
In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.27% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Sirius XM
Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Sirius XM during the fourth quarter valued at approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Sirius XM by 11.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock valued at $20,861,000 after purchasing an additional 92,111 shares during the last quarter. Focus Partners Wealth lifted its holdings in Sirius XM by 5.2% in the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after purchasing an additional 800 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Sirius XM in the 2nd quarter valued at $208,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.
Sirius XM Company Profile
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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