Guggenheim Reaffirms “Buy” Rating for Sirius XM (NASDAQ:SIRI)

Sirius XM (NASDAQ:SIRIGet Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a research note issued to investors on Thursday,Benzinga reports. They currently have a $29.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 28.55% from the stock’s previous close.

A number of other brokerages also recently issued reports on SIRI. Barrington Research restated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Rosenblatt Securities lowered their price objective on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.17.

View Our Latest Analysis on Sirius XM

Sirius XM Price Performance

Sirius XM stock opened at $22.56 on Thursday. Sirius XM has a 12 month low of $18.69 and a 12 month high of $41.60. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $7.62 billion, a PE ratio of -3.46, a P/E/G ratio of 0.32 and a beta of 0.91. The stock has a 50-day moving average price of $21.75 and a two-hundred day moving average price of $22.54.

Sirius XM (NASDAQ:SIRIGet Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the business earned $0.07 earnings per share. Sirius XM’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Sirius XM will post 3.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Kristina Salen sold 1,651 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director now owns 15,471 shares of the company’s stock, valued at $344,539.17. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its stake in Sirius XM by 11.7% in the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock valued at $2,678,283,000 after acquiring an additional 12,313,544 shares during the period. Oppenheimer & Co. Inc. grew its stake in Sirius XM by 58.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 50,618 shares of the company’s stock valued at $1,154,000 after acquiring an additional 18,720 shares during the period. Edgestream Partners L.P. acquired a new stake in Sirius XM in the fourth quarter valued at approximately $1,725,000. Truist Financial Corp acquired a new stake in Sirius XM in the fourth quarter valued at approximately $253,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Sirius XM in the fourth quarter valued at approximately $372,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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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.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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