Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives Consensus Rating of “Reduce” from Brokerages

Sirius XM Holdings Inc. (NASDAQ:SIRI) has earned a consensus rating of “Reduce” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.58.

Several research firms have commented on SIRI. Rosenblatt Securities raised their price objective on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Morgan Stanley reiterated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. The Goldman Sachs Group decreased their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sirius XM in a research report on Wednesday, December 11th. Finally, StockNews.com started coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating on the stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have purchased 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently added to or reduced their stakes in the company. Coston McIsaac & Partners increased its stake in 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 purchasing an additional 624 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of Sirius XM during the 3rd quarter valued at about $29,000. Princeton Global Asset Management LLC raised its stake in 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 worth $32,000 after acquiring an additional 1,315 shares during the period. Trium Capital LLP bought a new position in Sirius XM in the third quarter worth about $50,000. Finally, Nisa Investment Advisors LLC acquired a new position in Sirius XM in the third quarter valued at approximately $51,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Performance

Shares of SIRI stock opened at $23.13 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a market cap of $7.85 billion, a PE ratio of -3.65 and a beta of 1.03. The company’s fifty day simple moving average is $25.78 and its 200-day simple moving average is $28.30. Sirius XM has a 52 week low of $20.47 and a 52 week high of $56.80.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.27 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.67%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently -17.03%.

About Sirius XM

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.