Sirius XM (NASDAQ:SIRI) Price Target Cut to $2.50 by Analysts at Wells Fargo & Company

Sirius XM (NASDAQ:SIRI - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $3.00 to $2.50 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's target price indicates a potential downside of 18.03% from the company's current price.

Other analysts have also issued research reports about the stock. Citigroup raised shares of Sirius XM from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. Barrington Research reaffirmed an "outperform" rating and set a $5.75 price objective on shares of Sirius XM in a report on Tuesday. The Goldman Sachs Group raised shares of Sirius XM from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $3.50 to $3.25 in a report on Wednesday. Rosenblatt Securities dropped their price objective on shares of Sirius XM from $4.50 to $3.40 and set a "neutral" rating for the company in a report on Wednesday. Finally, Benchmark dropped their price objective on shares of Sirius XM from $7.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $4.42.

Sirius XM Trading Up 3.7 %

NASDAQ:SIRI traded up $0.11 during mid-day trading on Wednesday, hitting $3.05. The company's stock had a trading volume of 27,974,288 shares, compared to its average volume of 15,961,938. Sirius XM has a fifty-two week low of $2.92 and a fifty-two week high of $7.95. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 1.08 and a beta of 1.04. The stock has a fifty day moving average of $3.75 and a 200-day moving average of $4.57.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Sirius XM will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company's stock, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company's stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently bought and sold shares of the business. GM Advisory Group LLC boosted its position in shares of Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company's stock worth $120,000 after purchasing an additional 2,000 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Sirius XM by 20.5% during the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company's stock worth $69,000 after purchasing an additional 2,139 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Sirius XM by 14.8% during the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company's stock worth $93,000 after purchasing an additional 2,183 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Sirius XM by 0.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company's stock worth $2,123,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC boosted its position in shares of Sirius XM by 9.6% during the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company's stock worth $124,000 after purchasing an additional 2,420 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.