Rosenblatt Securities Reiterates “Neutral” Rating for Sirius XM (NASDAQ:SIRI)

Sirius XM (NASDAQ:SIRI)‘s stock had its “neutral” rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They presently have a $23.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 10.36% from the stock’s current price.

SIRI has been the topic of several other reports. Barrington Research restated an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a report on Monday, November 24th. Zacks Research raised Sirius XM from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 price target (up previously from $28.00) on shares of Sirius XM in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.29.

Sirius XM Price Performance

Sirius XM stock opened at $20.84 on Monday. The company has a fifty day simple moving average of $21.71 and a 200-day simple moving average of $22.42. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -3.09, a PEG ratio of 0.32 and a beta of 0.96. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. Sirius XM has a 52-week low of $18.69 and a 52-week high of $29.18.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted ($8.74) earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts anticipate that Sirius XM will post 3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 1,845 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $21.64, for a total transaction of $39,925.80. Following the transaction, the director directly owned 19,969 shares in the company, valued at $432,129.16. This represents a 8.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc grew its position in Sirius XM by 81.8% in the 3rd quarter. IFP Advisors Inc now owns 39,041 shares of the company’s stock valued at $910,000 after acquiring an additional 17,562 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Sirius XM in the third quarter valued at approximately $216,000. Cantor Fitzgerald L. P. purchased a new position in shares of Sirius XM in the third quarter valued at approximately $249,000. CIBC Bancorp USA Inc. acquired a new position in shares of Sirius XM in the third quarter valued at approximately $1,251,000. Finally, Tweedy Browne Co LLC grew its holdings in shares of Sirius XM by 105.4% in the third quarter. Tweedy Browne Co LLC now owns 25,800 shares of the company’s stock valued at $600,000 after purchasing an additional 13,240 shares in the last quarter. Institutional investors and hedge funds 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.