ValuEngine upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a research report sent to investors on Wednesday, April 4th.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Sirius XM from a hold rating to a buy rating and set a $7.00 target price on the stock in a research report on Wednesday, March 28th. BidaskClub upgraded Sirius XM from a buy rating to a strong-buy rating in a research report on Tuesday, March 27th. Citigroup downgraded Sirius XM from a buy rating to a neutral rating and set a $6.65 price objective on the stock. in a research report on Thursday, March 22nd. Goldman Sachs increased their price objective on Sirius XM from $5.00 to $5.50 and gave the stock a buy rating in a research report on Monday, February 5th. Finally, Morgan Stanley increased their target price on Sirius XM from $5.35 to $5.50 and gave the company an underweight rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Sirius XM has a consensus rating of Buy and an average price target of $6.21.
SIRI stock opened at $6.19 on Wednesday. The company has a market capitalization of $27,984.31, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.75 and a beta of 1.11. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16. Sirius XM has a 12-month low of $4.73 and a 12-month high of $6.62.
Sirius XM announced that its Board of Directors has approved a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Sirius XM news, Director Joan Lordi Amble sold 73,961 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $6.50, for a total value of $480,746.50. Following the completion of the sale, the director now directly owns 101,174 shares in the company, valued at $657,631. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the transaction, the executive vice president now owns 2,986,689 shares of the company’s stock, valued at $18,218,802.90. The disclosure for this sale can be found here. Insiders sold 1,113,308 shares of company stock valued at $6,822,521 over the last 90 days. 1.06% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Barings LLC lifted its holdings in shares of Sirius XM by 182.6% during the fourth quarter. Barings LLC now owns 421,700 shares of the company’s stock valued at $2,260,000 after purchasing an additional 272,500 shares during the last quarter. Chevy Chase Trust Holdings Inc. lifted 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 purchasing an additional 874,255 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Sirius XM by 38.0% during the fourth quarter. Toronto Dominion Bank now owns 95,155 shares of the company’s stock valued at $510,000 after acquiring an additional 26,198 shares in the last quarter. CIBC World Markets Inc. increased its position in shares of Sirius XM by 107.5% during the fourth quarter. CIBC World Markets Inc. now owns 44,994 shares of the company’s stock valued at $241,000 after acquiring an additional 23,305 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Sirius XM by 12.8% during the fourth quarter. American International Group Inc. now owns 293,945 shares of the company’s stock valued at $1,576,000 after acquiring an additional 33,348 shares in the last quarter. Hedge funds and other institutional investors own 20.02% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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