Sirius XM (NASDAQ:SIRI) Price Target Raised to $22.00

Sirius XM (NASDAQ:SIRI - Free Report) had its price objective lifted by Morgan Stanley from $21.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, July 2nd. Guggenheim reissued a "buy" rating and set a $29.00 target price on shares of Sirius XM in a report on Thursday, June 26th. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a report on Friday, May 2nd. Rosenblatt Securities reduced their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.50.

Sirius XM Stock Up 0.6%

Sirius XM stock traded up $0.13 during midday trading on Wednesday, reaching $23.56. The stock had a trading volume of 2,196,284 shares, compared to its average volume of 4,811,717. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $22.59 and a two-hundred day moving average price of $22.63. The company has a market capitalization of $7.96 billion, a P/E ratio of -3.61, a PEG ratio of 0.34 and a beta of 0.92. Sirius XM has a 12 month low of $18.69 and a 12 month high of $41.20.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $0.07 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Sirius XM will post 3.2 EPS for the current fiscal year.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the transaction, the director directly owned 15,471 shares of the company's stock, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in shares of Sirius XM during the fourth quarter valued at approximately $622,000. Victory Capital Management Inc. purchased a new stake in Sirius XM in the fourth quarter worth approximately $946,000. Proficio Capital Partners LLC boosted its holdings in Sirius XM by 5.9% in the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company's stock worth $325,000 after purchasing an additional 791 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sirius XM by 4.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company's stock worth $339,000 after purchasing an additional 630 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sirius XM by 4.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,821 shares of the company's stock worth $931,000 after acquiring an additional 1,863 shares during 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.