Sirius XM (NASDAQ:SIRI) Upgraded to Buy at Pivotal Research

Sirius XM (NASDAQ:SIRI - Get Free Report) was upgraded by Pivotal Research from a "hold" rating to a "buy" rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $4.90 price target on the stock, down from their prior price target of $5.05. Pivotal Research's price objective points to a potential upside of 55.06% from the stock's current price.

SIRI has been the topic of several other research reports. Wells Fargo & Company decreased their price target on shares of Sirius XM from $4.50 to $3.00 and set an "underweight" rating on the stock in a research report on Monday, April 1st. Benchmark decreased their price target on shares of Sirius XM from $7.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, March 27th. Citigroup upgraded shares of Sirius XM from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $4.10 to $3.30 in a research report on Wednesday. StockNews.com initiated coverage on shares of Sirius XM in a research report on Sunday. They issued a "hold" rating on the stock. Finally, Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a "neutral" rating and a $4.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of "Hold" and a consensus target price of $4.67.

Sirius XM Stock Performance

Shares of NASDAQ SIRI remained flat at $3.16 during mid-day trading on Wednesday. 17,834,045 shares of the company were exchanged, compared to its average volume of 14,998,628. Sirius XM has a fifty-two week low of $3.04 and a fifty-two week high of $7.95. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.06 and a beta of 1.04. The company has a fifty day moving average of $3.92 and a two-hundred day moving average of $4.62.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, sell-side analysts predict that Sirius XM will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Sirius XM

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SIRI. Simplicity Wealth LLC bought a new stake in Sirius XM in the first quarter valued at about $84,000. Satovsky Asset Management LLC bought a new stake in Sirius XM in the first quarter valued at about $40,000. PFG Investments LLC bought a new stake in Sirius XM in the first quarter valued at about $116,000. IFM Investors Pty Ltd increased its stake in Sirius XM by 9.3% in the first quarter. IFM Investors Pty Ltd now owns 206,345 shares of the company's stock valued at $801,000 after acquiring an additional 17,512 shares during the period. Finally, Norden Group LLC increased its stake in Sirius XM by 1,559.4% in the first quarter. Norden Group LLC now owns 242,172 shares of the company's stock valued at $940,000 after acquiring an additional 227,578 shares during the period. Institutional investors own 10.69% of the company's stock.

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.