Sirius XM (SIRI) Downgraded by Barrington Research

Barrington Research downgraded shares of Sirius XM (NASDAQ:SIRI) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, MarketBeat reports.

A number of other research firms have also recently commented on SIRI. BidaskClub raised shares of Sirius XM from a sell rating to a hold rating in a research report on Wednesday, December 6th. Bank of America set a $7.00 price target on shares of Sirius XM and gave the company a buy rating in a report on Thursday, October 12th. Piper Jaffray Companies set a $7.00 price target on shares of Sirius XM and gave the company a buy rating in a report on Wednesday, October 11th. Pivotal Research reaffirmed a buy rating and issued a $6.80 price target (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $6.00 price target on shares of Sirius XM in a report on Wednesday, October 18th. Four analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $5.94.

Sirius XM (NASDAQ:SIRI) traded up $0.10 on Tuesday, reaching $5.31. 27,001,699 shares of the company’s stock traded hands, compared to its average volume of 28,844,732. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. Sirius XM has a 12 month low of $4.52 and a 12 month high of $5.89. The stock has a market capitalization of $24,400.00, a P/E ratio of 29.50, a P/E/G ratio of 1.54 and a beta of 1.12.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Sirius XM had a net margin of 16.71% and a negative return on equity of 93.51%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned $0.04 earnings per share. Sirius XM’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts anticipate that Sirius XM will post 0.19 EPS for the current year.

In related news, CEO James E. Meyer sold 172,704 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total value of $980,958.72. Following the completion of the transaction, the chief executive officer now owns 3,377,085 shares in the company, valued at approximately $19,181,842.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the transaction, the executive vice president now owns 227,430 shares of the company’s stock, valued at approximately $1,296,351. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SIRI. Blair William & Co. IL lifted its holdings in Sirius XM by 5.9% in the 2nd quarter. Blair William & Co. IL now owns 40,453 shares of the company’s stock valued at $221,000 after acquiring an additional 2,242 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sirius XM by 21.3% during the second quarter. Victory Capital Management Inc. now owns 361,743 shares of the company’s stock valued at $1,979,000 after buying an additional 63,445 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Sirius XM by 15.7% during the second quarter. Pacer Advisors Inc. now owns 100,506 shares of the company’s stock valued at $550,000 after buying an additional 13,605 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sirius XM by 13.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 386,923 shares of the company’s stock valued at $2,116,000 after buying an additional 45,921 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Sirius XM by 925.9% during the second quarter. Principal Financial Group Inc. now owns 3,803,755 shares of the company’s stock valued at $20,807,000 after buying an additional 3,432,999 shares in the last quarter. 19.57% of the stock is owned by institutional investors.

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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.

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