Sirius XM (NASDAQ:SIRI) Upgraded to “Buy” at Guggenheim

Guggenheim upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $30.00 target price on the stock.

A number of other research analysts also recently issued reports on SIRI. Barrington Research reiterated an outperform rating and set a $47.50 price objective on shares of Sirius XM in a research note on Monday, July 15th. The Goldman Sachs Group reduced their price objective on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research note on Tuesday, September 17th. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and lowered their target price for the company from $42.50 to $32.50 in a research note on Monday, June 24th. StockNews.com assumed coverage on shares of Sirius XM in a report on Wednesday. They issued a hold rating for the company. Finally, Rosenblatt Securities raised their price target on Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sirius XM presently has an average rating of Hold and an average target price of $36.91.

Sirius XM Trading Up 3.9 %

SIRI opened at $24.95 on Wednesday. The firm’s 50 day simple moving average is $31.34 and its two-hundred day simple moving average is $31.94. The company has a market capitalization of $95.97 billion, a PE ratio of 75.61, a PEG ratio of 0.90 and a beta of 1.08. Sirius XM has a 1-year low of $22.73 and a 1-year high of $57.80.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Equities analysts forecast that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.266 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a yield of 4.26%. Sirius XM’s dividend payout ratio is presently 321.21%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Large investors have recently added to or reduced their stakes in the stock. GM Advisory Group LLC increased its position in Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after acquiring an additional 2,000 shares during the last quarter. D.A. Davidson & CO. raised its position in Sirius XM by 14.8% in the 4th quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock worth $93,000 after purchasing an additional 2,183 shares during the period. Treasurer of the State of North Carolina raised its position in Sirius XM by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 299,611 shares of the company’s stock worth $1,639,000 after purchasing an additional 2,853 shares during the period. V Square Quantitative Management LLC lifted its stake in Sirius XM by 66.6% in the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares during the last quarter. Finally, Quantum Financial Advisors LLC boosted its position in shares of Sirius XM by 36.8% during the first quarter. Quantum Financial Advisors LLC now owns 15,553 shares of the company’s stock valued at $60,000 after buying an additional 4,184 shares during the period. 10.69% of the stock is owned by institutional investors.

Sirius XM Company Profile

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.