Sirius XM (NASDAQ:SIRI) Now Covered by Moffett Nathanson

Moffett Nathanson initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $21.00 target price on the stock.

SIRI has been the subject of a number of other reports. Benchmark reissued a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Monday, December 1st. Barrington Research reiterated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.88.

Sirius XM Price Performance

Shares of SIRI stock traded down $0.08 during mid-day trading on Tuesday, reaching $20.12. The company’s stock had a trading volume of 947,607 shares, compared to its average volume of 4,208,011. The firm’s 50-day moving average is $20.95 and its two-hundred day moving average is $21.99. The company has a market cap of $6.77 billion, a P/E ratio of 7.11, a PEG ratio of 0.28 and a beta of 0.93. Sirius XM has a 1-year low of $18.69 and a 1-year high of $27.41. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.31 and a current ratio of 0.31.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, October 30th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($8.74) earnings per share. On average, research analysts predict that Sirius XM will post 3.2 earnings per share for the current year.

Insider Activity

In other news, Director Kristina Salen sold 1,845 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $21.64, for a total transaction of $39,925.80. Following the transaction, the director directly owned 19,969 shares in the company, valued at approximately $432,129.16. This represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Sirius XM in the 3rd quarter valued at $33,000. Quaker Wealth Management LLC boosted its holdings in Sirius XM by 214.7% in the second quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after acquiring an additional 3,001 shares during the last quarter. True Wealth Design LLC boosted its holdings in Sirius XM by 47.8% in the second quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after acquiring an additional 523 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the period. Finally, Mather Group LLC. bought a new stake in Sirius XM during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.