Sirius XM (NASDAQ:SIRI) Downgraded to Hold Rating by Guggenheim

Guggenheim cut shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on SIRI. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Sirius XM in a research note on Monday, November 4th. StockNews.com assumed coverage on shares of Sirius XM in a report on Tuesday, November 5th. They issued a “hold” rating for the company. Pivotal Research dropped their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Bank of America restated an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.96.

Sirius XM Trading Up 0.0 %

SIRI opened at $26.13 on Wednesday. The company’s 50 day moving average is $25.93 and its 200-day moving average is $29.21. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.86 billion, a P/E ratio of -4.12 and a beta of 1.04.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.13%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. Sirius XM’s payout ratio is currently -17.03%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the business’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coston McIsaac & Partners increased its position in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after buying an additional 624 shares during the period. Mather Group LLC. bought a new stake in shares of Sirius XM during the second quarter valued at about $28,000. TCTC Holdings LLC bought a new stake in shares of Sirius XM during the third quarter valued at about $29,000. Princeton Global Asset Management LLC increased its position in shares of Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after buying an additional 1,315 shares during the period. Finally, Walker Asset Management LLC bought a new stake in shares of Sirius XM during the second quarter valued at about $33,000. 10.69% of the stock is currently owned by institutional investors.

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.