Sirius XM (NASDAQ:SIRI) Price Target Raised to $21.00 at JPMorgan Chase & Co.

by · The Markets Daily

Sirius XM (NASDAQ:SIRI – Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 20.48% from the stock’s current price.

A number of other equities analysts have also recently weighed in on SIRI. Pivotal Research decreased their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group decreased their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday. Citigroup upped their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. StockNews.com assumed coverage on Sirius XM in a report on Tuesday. They issued a “hold” rating for the company. Finally, Bank of America restated an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average price target of $28.96.

Check Out Our Latest Stock Report on SIRI

Sirius XM Trading Up 0.8 %

SIRI traded up $0.21 on Thursday, reaching $26.41. 2,703,461 shares of the company’s stock were exchanged, compared to its average volume of 3,499,445. The company’s 50 day moving average is $26.19 and its 200-day moving average is $29.26. The company has a market cap of $8.96 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 1.37 and a beta of 1.04. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the company’s stock in a transaction on Friday, October 11th. The stock was purchased at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the purchase, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by company insiders.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in shares of Sirius XM in the second quarter valued at $12,858,000. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after acquiring an additional 353,860 shares in the last quarter. AQR Capital Management LLC lifted its stake in Sirius XM by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after acquiring an additional 490,761 shares in the last quarter. ProShare Advisors LLC lifted its stake in Sirius XM by 25.8% in the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in Sirius XM by 58.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after acquiring an additional 902,079 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

About Sirius XM

(Get Free Report)

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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