Sirius XM (SIRI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other equities analysts have also weighed in on SIRI. B. Riley restated a buy rating on shares of Sirius XM in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Sirius XM from a buy rating to a hold rating in a research report on Thursday, February 1st. Buckingham Research upped their target price on shares of Sirius XM from $6.50 to $7.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Goldman Sachs Group upped their target price on shares of Sirius XM from $5.00 to $5.50 and gave the stock a buy rating in a research report on Monday, February 5th. Finally, Morgan Stanley upped their target price on shares of Sirius XM from $5.35 to $5.50 and gave the stock an underweight rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $6.12.

Sirius XM (NASDAQ:SIRI) opened at $5.82 on Wednesday. The company has a debt-to-equity ratio of -4.42, a quick ratio of 0.16 and a current ratio of 0.17. Sirius XM has a 12-month low of $4.69 and a 12-month high of $6.28. The firm has a market cap of $26,277.41, a price-to-earnings ratio of 44.77, a P/E/G ratio of 1.63 and a beta of 1.17.

Sirius XM declared that its board has approved a stock buyback plan on Tuesday, January 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.011 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.04 annualized dividend and a yield of 0.76%. Sirius XM’s dividend payout ratio (DPR) is currently 30.77%.

In other Sirius XM news, VP Thomas D. Barry sold 175,777 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the transaction, the vice president now owns 551,815 shares in the company, valued at $3,371,589.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James E. Meyer sold 172,704 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total transaction of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The disclosure for this sale can be found here. Insiders have sold 2,586,530 shares of company stock valued at $15,157,263 in the last quarter. 1.06% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. lifted its holdings in shares of Sirius XM by 476.2% in the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after acquiring an additional 15,200 shares during the last quarter. Colony Group LLC bought a new stake in shares of Sirius XM in the 2nd quarter worth about $102,000. Valmark Advisers Inc. lifted its holdings in shares of Sirius XM by 102.3% in the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock worth $108,000 after acquiring an additional 10,230 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Sirius XM by 9.7% in the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after acquiring an additional 1,799 shares during the last quarter. Finally, Cornerstone Financial Partners LLC bought a new stake in shares of Sirius XM in the 4th quarter worth about $113,000. Hedge funds and other institutional investors own 19.69% of the company’s stock.

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About Sirius XM

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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