Spotify Stock Surge: Why Investors Are Buying Despite High Prices
Several other equities analysts also recently commented on SIRI. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, November 13th. They issued a "sell" rating on the stock. Morgan Stanley reiterated an "underweight" rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. Benchmark reaffirmed a "buy" rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Pivotal Research lowered 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. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.58.
Check Out Our Latest Analysis on SIRI
Shares of SIRI traded down $0.59 during mid-day trading on Thursday, reaching $20.92. 2,481,426 shares of the company's stock traded hands, compared to its average volume of 3,720,494. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock's 50-day moving average is $26.27 and its two-hundred day moving average is $28.45. Sirius XM has a 12 month low of $20.92 and a 12 month high of $56.80. The stock has a market cap of $7.10 billion, a P/E ratio of -3.30 and a beta of 1.03.
In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 2,646,761 shares of company stock valued at $65,952,329 in the last ninety days. Corporate insiders own 0.79% of the company's stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Coston McIsaac & Partners raised its stake in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock worth $27,000 after purchasing an additional 624 shares during the last quarter. TCTC Holdings LLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $29,000. Bfsg LLC boosted its holdings in shares of Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company's stock valued at $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after acquiring an additional 1,315 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Sirius XM by 139.8% during the third quarter. Larson Financial Group LLC now owns 3,187 shares of the company's stock worth $75,000 after purchasing an additional 1,858 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.
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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