Sirius XM (NASDAQ:SIRI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

SIRI has been the subject of a number of other reports. Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. JPMorgan Chase & Co. upgraded Sirius XM from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $6.00 to $7.00 in a report on Wednesday, January 2nd. Pivotal Research reiterated a “hold” rating and issued a $7.00 target price on shares of Sirius XM in a report on Thursday, January 31st. Macquarie set a $8.00 target price on Sirius XM and gave the company a “buy” rating in a report on Wednesday, January 2nd. Finally, Barclays set a $6.00 target price on Sirius XM and gave the company a “sell” rating in a report on Saturday, February 2nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Sirius XM has an average rating of “Hold” and an average price target of $7.26.

Shares of NASDAQ SIRI traded down $0.04 during trading on Wednesday, reaching $5.66. The stock had a trading volume of 29,834,400 shares, compared to its average volume of 28,769,248. The stock has a market capitalization of $25.83 billion, a PE ratio of 21.77, a PEG ratio of 2.32 and a beta of 1.05. Sirius XM has a fifty-two week low of $5.48 and a fifty-two week high of $7.70.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Sirius XM had a negative return on equity of 76.76% and a net margin of 20.38%. Sirius XM’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. As a group, analysts expect that Sirius XM will post 0.22 EPS for the current year.

Sirius XM announced that its Board of Directors has initiated a share buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other Sirius XM news, EVP James Arthur Cady sold 588,503 shares of Sirius XM stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the completion of the sale, the executive vice president now directly owns 1,840,070 shares of the company’s stock, valued at approximately $11,279,629.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas D. Barry sold 48,513 shares of Sirius XM stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $6.06, for a total value of $293,988.78. Following the sale, the vice president now directly owns 462,465 shares of the company’s stock, valued at $2,802,537.90. The disclosure for this sale can be found here. Insiders have sold a total of 693,134 shares of company stock valued at $4,245,516 over the last ninety days. 0.76% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. We Are One Seven LLC purchased a new stake in Sirius XM during the 4th quarter worth about $41,000. Bruderman Asset Management LLC lifted its holdings in Sirius XM by 268.3% during the 4th quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock worth $49,000 after buying an additional 6,241 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in Sirius XM during the 4th quarter worth about $49,000. CWM LLC lifted its holdings in Sirius XM by 127.2% during the 4th quarter. CWM LLC now owns 8,959 shares of the company’s stock worth $51,000 after buying an additional 5,015 shares during the last quarter. Finally, Sound View Wealth Advisors LLC purchased a new stake in Sirius XM during the 4th quarter worth about $57,000. 17.12% of the stock is owned by institutional investors.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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