Sirius XM (NASDAQ:SIRI) Trading Down 5% Following Analyst Downgrade

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares fell 5% after Goldman Sachs downgraded the stock and lowered its price target. The stock traded as low as $3.26, with a last trade at $3.27. Other firms like Morgan Stanley and Deutsche Bank also adjusted their ratings and price targets. Berkshire Hathaway acquired 869,800 shares, increasing its stake. Institutional investors have also modified their holdings, with significant increases from several firms. The average rating for Sirius XM remains "Hold" with a target price of $4.88.

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) were down 5% during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $26.00 to $23.00. The Goldman Sachs Group currently has a neutral rating on the stock. Sirius XM traded as low as $26.26 and last traded at $26.27. Approximately 3,756,023 shares were traded during trading, an increase of 9% from the average daily volume of 3,457,173 shares. The stock had previously closed at $27.65.

SiriusXM Stock: 4 Reasons to Buy This Monopoly

Several other research firms also recently issued reports on SIRI. Morgan Stanley restated an "underweight" rating and issued a $23.00 price objective on shares of Sirius XM in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sirius XM from $37.50 to $30.00 and set a "hold" rating for the company in a report on Tuesday, August 6th. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Sirius XM in a report on Monday. Citigroup upped their target price on shares of Sirius XM from $2.80 to $21.00 and gave the company a "sell" rating in a report on Thursday, September 26th. Finally, StockNews.com assumed coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a "hold" rating for the company. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Sirius XM currently has an average rating of "Hold" and an average target price of $28.88.

Check Out Our Latest Stock Analysis on SIRI

Insider Activity

Berkshire Hathaway's Latest Portfolio Moves: A Strategic Shuffle

In other news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now directly owns 106,024,829 shares of the company's stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in shares of Sirius XM during the 2nd quarter valued at about $12,858,000. Dimensional Fund Advisors LP grew its position in shares of Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company's stock valued at $12,260,000 after buying an additional 353,860 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company's stock valued at $10,807,000 after buying an additional 490,761 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Sirius XM by 25.8% during the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company's stock valued at $14,542,000 after buying an additional 768,570 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in shares of Sirius XM by 58.6% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company's stock valued at $6,911,000 after buying an additional 902,079 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Sirius XM Trading Down 5.5 %

Is it Time to Buy These 5 Oversold Stocks?

The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The business's 50-day moving average is $26.52 and its two-hundred day moving average is $29.35. The firm has a market cap of $10.06 billion, a P/E ratio of -4.12, a P/E/G ratio of 1.32 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. As a group, analysts expect that Sirius XM Holdings Inc. will post 3.04 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $0.27 dividend. This is a boost from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 4.13%. Sirius XM's dividend payout ratio is -16.72%.

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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