Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned an average recommendation of “Buy” from the twenty-one ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.16.
Several brokerages have issued reports on SIRI. Zacks Investment Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Wednesday, January 24th. Buckingham Research upped their target price on Sirius XM from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays upped their target price on Sirius XM from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Citigroup downgraded Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 price objective for the company. in a research report on Thursday, March 22nd. Finally, ValuEngine upgraded Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th.
Shares of SIRI opened at $6.31 on Wednesday. The company has a market capitalization of $28,478.42, a price-to-earnings ratio of 31.55, a PEG ratio of 1.78 and a beta of 1.11. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of -4.42. Sirius XM has a 1 year low of $4.73 and a 1 year high of $6.62.
Sirius XM declared that its Board of Directors has approved a share repurchase plan on Tuesday, January 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Joan Lordi Amble sold 73,961 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total transaction of $480,746.50. Following the completion of the transaction, the director now owns 101,174 shares in the company, valued at $657,631. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph A. Verbrugge sold 863,570 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total value 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 approximately $18,218,802.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,113,308 shares of company stock valued at $6,822,521. 1.06% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Sirius XM by 268.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 697,797 shares of the company’s stock valued at $3,740,000 after acquiring an additional 508,632 shares in the last quarter. D.B. Root & Company LLC bought a new position in shares of Sirius XM during the fourth quarter valued at approximately $185,000. Xact Kapitalforvaltning AB raised its holdings in shares of Sirius XM by 14.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 153,279 shares of the company’s stock valued at $822,000 after acquiring an additional 19,533 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Sirius XM by 16.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,496,257 shares of the company’s stock valued at $8,020,000 after acquiring an additional 206,315 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Sirius XM by 401.3% during the fourth quarter. Macquarie Group Ltd. now owns 92,200 shares of the company’s stock valued at $811,000 after acquiring an additional 73,808 shares in the last quarter. Institutional investors own 19.96% of the company’s stock.
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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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