Sirius XM (SIRI) Receives New Coverage from Analysts at Buckingham Research
Buckingham Research assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $6.50 target price on the stock.
Several other equities research analysts also recently weighed in on the company. Deutsche Bank raised Sirius XM from a hold rating to a buy rating and increased their price objective for the company from $5.25 to $6.50 in a report on Friday. BidaskClub downgraded Sirius XM from a sell rating to a strong sell rating in a report on Thursday. Royal Bank of Canada set a $6.00 price objective on Sirius XM and gave the company a hold rating in a report on Thursday, January 11th. Zacks Investment Research downgraded Sirius XM from a hold rating to a sell rating in a report on Friday, January 5th. Finally, Barrington Research downgraded Sirius XM from an outperform rating to a market perform rating in a report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Sirius XM presently has a consensus rating of Hold and an average price target of $6.01.
Shares of Sirius XM (NASDAQ:SIRI) traded up $0.13 on Friday, reaching $5.60. The company had a trading volume of 26,330,000 shares, compared to its average volume of 22,420,000. The company has a debt-to-equity ratio of -6.41, a current ratio of 0.19 and a quick ratio of 0.18. The firm has a market capitalization of $25,140.00, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.12. Sirius XM has a 52-week low of $4.57 and a 52-week high of $5.89.
In other Sirius XM news, EVP Patrick L. Donnelly sold 1,374,479 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total value of $7,834,530.30. Following the completion of the transaction, the executive vice president now owns 227,430 shares in the company, valued at $1,296,351. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James E. Meyer sold 172,704 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the completion of the transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The disclosure for this sale can be found here. 1.06% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in SIRI. Eaton Vance Management purchased a new position in Sirius XM in the second quarter worth $277,000. Wells Fargo & Company MN raised its position in Sirius XM by 29.6% in the second quarter. Wells Fargo & Company MN now owns 3,179,685 shares of the company’s stock worth $17,392,000 after acquiring an additional 726,832 shares in the last quarter. Amalgamated Bank raised its position in Sirius XM by 50.6% in the second quarter. Amalgamated Bank now owns 160,382 shares of the company’s stock worth $877,000 after acquiring an additional 53,905 shares in the last quarter. Laurion Capital Management LP raised its position in Sirius XM by 49.6% in the second quarter. Laurion Capital Management LP now owns 56,120 shares of the company’s stock worth $307,000 after acquiring an additional 18,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Sirius XM by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 113,475 shares of the company’s stock worth $621,000 after acquiring an additional 1,828 shares in the last quarter. Hedge funds and other institutional investors own 19.64% of the company’s stock.
Sirius XM Company Profile
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.
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