Sirius XM (NASDAQ:SIRI) has been assigned a $6.00 price target by analysts at Royal Bank of Canada in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 9.49% from the stock’s current price.
Several other brokerages have also issued reports on SIRI. BidaskClub raised shares of Sirius XM from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Bank of America set a $7.00 price objective on shares of Sirius XM and gave the company a “buy” rating in a report on Thursday, October 12th. Piper Jaffray Companies set a $7.00 price target on shares of Sirius XM and gave the stock a “buy” rating in a report on Wednesday, October 11th. Pivotal Research reaffirmed a “buy” rating and issued a $6.80 price target (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Finally, Zacks Investment Research lowered shares of Sirius XM from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $5.94.
Shares of Sirius XM (NASDAQ:SIRI) traded down $0.02 during mid-day trading on Thursday, reaching $5.48. 15,776,422 shares of the company traded hands, compared to its average volume of 26,100,857. The stock has a market capitalization of $25,280.00, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. Sirius XM has a 12 month low of $4.54 and a 12 month high of $5.89.
In other news, EVP Patrick L. Donnelly sold 1,374,479 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the sale, the executive vice president now directly owns 227,430 shares of the company’s stock, valued at $1,296,351. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James E. Meyer sold 172,704 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total transaction of $980,958.72. Following the sale, the chief executive officer now directly owns 3,377,085 shares in the company, valued at $19,181,842.80. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP grew its holdings in shares of Sirius XM by 603.6% during the second quarter. Engineers Gate Manager LP now owns 97,890 shares of the company’s stock valued at $535,000 after buying an additional 83,978 shares during the last quarter. Swiss National Bank grew its holdings in shares of Sirius XM by 0.5% during the third quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock valued at $33,375,000 after buying an additional 27,200 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its holdings in shares of Sirius XM by 19.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 5,419,576 shares of the company’s stock valued at $29,915,000 after buying an additional 874,255 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sirius XM by 9.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 423,790 shares of the company’s stock valued at $2,339,000 after purchasing an additional 36,867 shares during the period. Finally, Pictet Asset Management Ltd. lifted its position in Sirius XM by 5.7% during the third quarter. Pictet Asset Management Ltd. now owns 784,400 shares of the company’s stock valued at $4,330,000 after purchasing an additional 42,100 shares during the period. 19.57% of the stock is currently owned by hedge funds and other institutional investors.
About Sirius XM
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
