Sirius XM (NASDAQ:SIRI) Upgraded by Pivotal Research to Buy

Pivotal Research upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a research note published on Wednesday morning, MarketBeat reports. The firm currently has $4.90 target price on the stock, down from their previous target price of $5.05.

Several other equities analysts also recently commented on SIRI. Wells Fargo & Company dropped their price target on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a research note on Monday, April 1st. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 target price for the company. StockNews.com started coverage on shares of Sirius XM in a research note on Sunday. They set a hold rating for the company. Benchmark lowered their target price on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research note on Wednesday, March 27th. Finally, Citigroup upgraded shares of Sirius XM from a sell rating to a neutral rating and lowered their target price for the stock from $4.10 to $3.30 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $4.67.

Sirius XM Stock Performance

Shares of SIRI opened at $3.16 on Wednesday. Sirius XM has a fifty-two week low of $3.04 and a fifty-two week high of $7.95. The company has a market capitalization of $12.15 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.06 and a beta of 1.04. The business’s 50-day moving average is $3.92 and its two-hundred day moving average is $4.62.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Analysts forecast that Sirius XM will post 0.29 EPS for the current year.

Insider Transactions at Sirius XM

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

Institutional Trading of Sirius XM

Large investors have recently modified their holdings of the company. Berkshire Hathaway Inc boosted its holdings in Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its position in Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after acquiring an additional 12,129,166 shares in the last quarter. New York State Common Retirement Fund increased its position in Sirius XM by 169.6% in the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after acquiring an additional 6,482,109 shares in the last quarter. Cadian Capital Management LP acquired a new stake in Sirius XM in the 3rd quarter valued at about $8,929,000. Finally, Northern Trust Corp increased its position in Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after acquiring an additional 1,776,700 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

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.