Is Sirius XM Radio (NASDAQ:SIRI) a Stock to Watch Now That JP Morgan Has Begun Covering It?


How JP Morgan Currently Rates Sirius XM Radio (NASDAQ:SIRI)

JP Morgan revealed to investors and clients in an analyst note that it began issuing coverage on Sirius XM Radio (NASDAQ:SIRI) stock, with Neutral rating.

From a total of 15 analysts covering Sirius XM Holdings (NASDAQ:SIRI) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 71% of the ratings are positive. The highest target price is $5.25 while the lowest target price is $4.25. The mean of all analyst targets is $4.7 with a 18.09% above today’s ($3.98) stock price. Sirius XM Holdings was the topic of 8 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on October 26 with “Sector Perform” rating. Wunderlich upgraded shares to “Buy” rating and $4.60 target share price in a report from a July 29. Gabelli initiated SIRI stock in a recent report from September 18 with “Buy” rating. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 4.

Approximately 11.26 million shares of stock traded hands. Sirius XM Holdings Inc. (NASDAQ:SIRI) has risen 4.70% since May 11, 2015 and is uptrending. It has outperformed by 9.12% the S&P500.

The overall sentiment of institutions has increased to 0.82 in Q2 2015. Its up 0.01, from 0.81 in 2015Q2. The ratio increased, as 35 institutions have sold all the shares of Sirius XM Holdings Inc. that they owned while 154 funds have taken shares off the table. 45 funds have purchased shares for the first time while 110 added to their positions. These institutions now hold 1.08 billion shares or 11.16% less than the 1.22 billion shares they owned in 2015Q2.

The Fund Sarbit Advisory Services Inc. currently is holding shares equating to 18.2% of its total portfolio in Sirius XM Holdings Inc. representing a total of 31.57 million shares. Another fund,Madison Street Partners Llc, is holding a total of 685,418 shares equating to 9.71% of their holdings. Additionally, Brahman Capital Corp. has a 95.21 million share stake in Sirius XM Holdings Inc. which represents 7.03% of their total portfolio. The Fund, Highline Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 4.83% of their total portfolio. Finally Long Oar Global Investors Llc, a fund which is based in the state of New York reported a total holdings of 200,000 shares.

According to Zacks Investment Research, “Sirius XM Holdings Inc. is a radio broadcasting company. It creates and broadcasts commercial-free music; premier sports and live events; news and comedy; exclusive talk and entertainment; and the most comprehensive lineup of Latin commercial-free music, sports, and talk programming in radio. SiriusXM content is available via satellite and through the SiriusXM Internet Radio app for smartphones and other connected devices, as well as online at Sirius XM Holdings Inc., formerly known as Sirius XM Radio Inc., is headquartered in New York.”