Sirius XM (NASDAQ:SIRI) Receives "Buy" Rating from Guggenheim

Sirius XM (NASDAQ:SIRI - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Guggenheim in a research report issued on Thursday,Benzinga reports. They currently have a $29.00 target price on the stock. Guggenheim's price objective points to a potential upside of 29.66% from the stock's previous close.

SIRI has been the subject of a number of other reports. Rosenblatt Securities decreased their price target on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barrington Research restated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.17.

Sirius XM Price Performance

SIRI traded down $0.08 on Thursday, hitting $22.37. 338,882 shares of the company were exchanged, compared to its average volume of 4,581,599. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The business's fifty day moving average is $21.66 and its 200 day moving average is $22.61. The firm has a market capitalization of $7.56 billion, a P/E ratio of -3.43, a price-to-earnings-growth ratio of 0.32 and a beta of 0.91. Sirius XM has a fifty-two week low of $18.69 and a fifty-two week high of $41.60.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $0.07 EPS. The company's revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sirius XM will post 3.2 EPS for the current year.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the transaction, the director now owns 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 legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Sirius XM in the first quarter worth about $25,000. Putney Financial Group LLC acquired a new position in Sirius XM in the fourth quarter valued at approximately $27,000. First Command Advisory Services Inc. purchased a new stake in Sirius XM during the fourth quarter worth $30,000. Deseret Mutual Benefit Administrators increased its position in shares of Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after buying an additional 705 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock worth $41,000 after acquiring an additional 493 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.

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