The Goldman Sachs Group Cuts Sirius XM (NASDAQ:SIRI) Price Target to $23.00

Sirius XM (NASDAQ:SIRI) had its price target reduced by equities researchers at The Goldman Sachs Group from $26.00 to $23.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 12.68% from the stock’s previous close.

SIRI has been the topic of several other research reports. Rosenblatt Securities restated a “neutral” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Monday. Pivotal Research cut their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com started coverage on Sirius XM in a research report on Monday, October 28th. They set a “hold” rating for the company. Benchmark reissued a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.88.

Sirius XM Stock Up 2.6 %

Sirius XM stock opened at $26.34 on Monday. The firm has a market capitalization of $10.14 billion, a P/E ratio of -4.15, a P/E/G ratio of 1.37 and a beta of 1.04. The company has a 50-day simple moving average of $26.31 and a 200-day simple moving average of $29.29. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the acquisition, the insider now owns 110,276,790 shares of the company’s stock, valued at approximately $3,024,892,349.70. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the transaction, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 2,646,761 shares of company stock worth $65,952,329 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently made changes to their positions in SIRI. Point72 Asset Management L.P. acquired a new stake in Sirius XM during the 2nd quarter valued at $12,858,000. Cubist Systematic Strategies LLC purchased a new stake in Sirius XM in the 2nd quarter worth about $5,192,000. SG Americas Securities LLC boosted its position in Sirius XM by 516.5% during the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after acquiring an additional 1,341,352 shares during the period. Marshall Wace LLP purchased a new position in Sirius XM during the 2nd quarter valued at about $3,616,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sirius XM in the 2nd quarter valued at about $3,238,000. 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.