Rosenblatt Securities Trims Sirius XM (NASDAQ:SIRI) Target Price to $3.40

Sirius XM (NASDAQ:SIRI) had its target price reduced by Rosenblatt Securities from $4.50 to $3.40 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently weighed in on SIRI. Barrington Research restated an outperform rating and set a $5.75 target price on shares of Sirius XM in a report on Tuesday. Pivotal Research upgraded shares of Sirius XM from a hold rating to a buy rating and decreased their price objective for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. The Goldman Sachs Group upgraded shares of Sirius XM from a sell rating to a neutral rating and decreased their price objective for the company from $3.50 to $3.25 in a report on Wednesday. Guggenheim assumed coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price objective on the stock. Finally, StockNews.com assumed coverage on shares of Sirius XM in a research note on Monday, April 29th. They issued a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $4.42.

Sirius XM Stock Up 2.3 %

Shares of SIRI stock opened at $3.12 on Wednesday. The company’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $4.56. The firm has a market cap of $12.00 billion, a PE ratio of 9.45, a P/E/G ratio of 1.02 and a beta of 1.10. Sirius XM has a 12 month low of $2.92 and a 12 month high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts predict that Sirius XM will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued a $0.0266 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.41%. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares in the company, valued at approximately $3,659,398.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in Sirius XM during the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in Sirius XM during the 1st quarter valued at approximately $31,000. First United Bank & Trust acquired a new stake in Sirius XM during the 4th quarter valued at approximately $37,000. Finally, TFO Wealth Partners LLC increased its position in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the period. Institutional investors own 10.69% of the company’s stock.

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.