Sirius XM (NASDAQ:SIRI) Downgraded by BidaskClub to “Buy”

Sirius XM (NASDAQ:SIRI) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

SIRI has been the topic of a number of other research reports. ValuEngine downgraded Sirius XM from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co initiated coverage on Sirius XM in a research report on Monday, September 23rd. They set an “outperform” rating and a $8.00 target price for the company. Benchmark initiated coverage on Sirius XM in a research report on Wednesday, October 9th. They set a “hold” rating and a $8.00 target price for the company. Finally, Pivotal Research reaffirmed a “buy” rating and set a $7.70 target price on shares of Sirius XM in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $7.32.

NASDAQ:SIRI traded up $0.02 during mid-day trading on Friday, reaching $6.33. The stock had a trading volume of 9,903,156 shares, compared to its average volume of 24,673,881. The business’s 50 day moving average is $6.27 and its 200 day moving average is $5.94. Sirius XM has a fifty-two week low of $5.23 and a fifty-two week high of $6.51. The stock has a market cap of $28.17 billion, a P/E ratio of 24.35, a PEG ratio of 2.49 and a beta of 1.01. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.33 and a quick ratio of 0.33.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Sirius XM had a negative return on equity of 117.72% and a net margin of 15.25%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up 38.1% on a year-over-year basis. Equities analysts expect that Sirius XM will post 0.21 EPS for the current year.

In other Sirius XM news, insider Jennifer C. Witz sold 504,830 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the completion of the sale, the insider now owns 913,904 shares of the company’s stock, valued at $5,501,702.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas D. Barry sold 164,715 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.99, for a total value of $986,642.85. Following the sale, the vice president now directly owns 265,735 shares of the company’s stock, valued at approximately $1,591,752.65. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Point72 Hong Kong Ltd bought a new stake in shares of Sirius XM in the second quarter valued at approximately $29,000. Rockefeller Capital Management L.P. boosted its position in shares of Sirius XM by 533.0% in the second quarter. Rockefeller Capital Management L.P. now owns 5,393 shares of the company’s stock valued at $30,000 after acquiring an additional 4,541 shares during the period. Coastal Capital Group Inc. bought a new stake in shares of Sirius XM in the second quarter valued at approximately $32,000. Westside Investment Management Inc. bought a new stake in shares of Sirius XM in the second quarter valued at approximately $37,000. Finally, Manchester Financial Inc. bought a new stake in shares of Sirius XM in the second quarter valued at approximately $38,000. 18.91% of the stock is owned by institutional investors.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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