Rosenblatt Securities upgraded shares of Sirius XM (NASDAQ:SIRI – Free Report) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat reports. The firm currently has $46.00 price target on the stock, up from their prior price target of $24.00.
Several other brokerages have also recently issued reports on SIRI. JPMorgan Chase & Co. raised shares of Sirius XM from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $24.00 in a research report on Tuesday, February 10th. Barrington Research reissued an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a research report on Thursday, February 5th. UBS Group set a $24.00 price target on shares of Sirius XM in a research report on Tuesday, February 10th. Weiss Ratings cut shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. Finally, Moffett Nathanson initiated coverage on shares of Sirius XM in a research report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus target price of $26.89.
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Sirius XM Stock Performance
Sirius XM Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Monday, May 11th will be issued a $0.27 dividend. The ex-dividend date is Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 3.9%. Sirius XM’s dividend payout ratio (DPR) is 48.21%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SIRI. Berkshire Hathaway Inc boosted its holdings in Sirius XM by 4.2% in the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. AQR Capital Management LLC boosted its holdings in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after purchasing an additional 3,233,922 shares during the period. Norges Bank acquired a new stake in Sirius XM in the fourth quarter valued at $57,124,000. Hsbc Holdings PLC raised its stake in Sirius XM by 858.4% in the fourth quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after buying an additional 1,859,872 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Sirius XM in the fourth quarter valued at $34,548,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.
Sirius XM News Roundup
Here are the key news stories impacting Sirius XM this week:
- Positive Sentiment: SiriusXM Media was named the exclusive U.S. audio advertising sales representative for YouTube, giving SiriusXM direct access to YouTube’s audio-first inventory and creating scale/targeting benefits for advertisers — a near-term revenue and ad-platform win for Pandora and SiriusXM’s ad business. SiriusXM Media Becomes Exclusive Audio Advertising Representative for YouTube in the United States SiriusXM to sell YouTube audio ads exclusively in US
- Positive Sentiment: The board declared a quarterly cash dividend of $0.27 per share (payable May 27), supporting income returns and appealing to yield-focused investors. SiriusXM Declares Quarterly Cash Dividend
- Positive Sentiment: Rosenblatt upgraded SIRI from Neutral to Buy and raised its price target to $46, signaling bullish analyst sentiment that could attract momentum buyers. Benzinga
- Neutral Sentiment: Wall Street expects earnings growth in the upcoming report; this sets up potential upside if SiriusXM posts a beat but is not a guaranteed catalyst. Sirius XM (SIRI) Reports Next Week: Wall Street Expects Earnings Growth
- Neutral Sentiment: Analysis points to SiriusXM’s spectrum assets and potential regulatory changes (spectrum leasing for space/communications) as long-term upside — speculative but could materially re-rate valuation if realized. Sirius XM’s Weird Space Rally Explained
- Neutral Sentiment: Recent publications and an older earnings transcript are available for deeper detail on operations and guidance; useful for due diligence but not new catalysts by themselves. Sirius XM (SIRI) Q3 2024 Earnings Transcript
- Negative Sentiment: Regulatory scrutiny — Texas announced a probe into music-streaming platforms over undisclosed payments/promoted visibility, a development that raises industry-wide risk around disclosures and label/platform practices; could spill over to ad/streaming dynamics. Texas Announces Probe of Music Streaming Platforms
About Sirius XM
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.
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