Sirius XM’s (SIRI) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Wednesday morning, MarketBeat Ratings reports. Guggenheim currently has a $30.00 target price on the stock.

A number of other research analysts also recently commented on SIRI. Bank of America reissued an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a research report on Thursday, October 24th. Pivotal Research cut their target price on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Rosenblatt Securities lifted their target price on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, 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. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average price target of $28.27.

Sirius XM Trading Down 2.8 %

NASDAQ SIRI opened at $24.11 on Wednesday. The company has a market cap of $8.18 billion, a PE ratio of -3.80 and a beta of 1.03. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The stock has a 50 day moving average of $26.35 and a 200-day moving average of $28.55.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is presently -17.03%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Sirius XM by 209.1% during the third quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock worth $2,062,000 after purchasing an additional 58,993 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Sirius XM during the 3rd quarter worth approximately $5,489,000. Rehmann Capital Advisory Group boosted its position in shares of Sirius XM by 25.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 21,763 shares of the company’s stock worth $521,000 after acquiring an additional 4,428 shares in the last quarter. TD Private Client Wealth LLC bought a new position in Sirius XM in the third quarter valued at approximately $371,000. Finally, Aequim Alternative Investments LP acquired a new position in Sirius XM during the third quarter valued at approximately $6,932,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.