Whitebox Advisors LLC cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,943 shares of the company’s stock after selling 17,000 shares during the quarter. Whitebox Advisors LLC’s holdings in Sirius XM were worth $3,553,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC raised its stake in Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after acquiring an additional 1,195 shares in the last quarter. Rossby Financial LCC boosted its stake in shares of Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Sirius XM during the 4th quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Sirius XM during the 4th quarter valued at approximately $40,000. Institutional investors own 10.69% of the company’s stock.
Wall Street Analyst Weigh In
SIRI has been the subject of several research reports. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Evercore set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 1st. Barrington Research upped their price target on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Morgan Stanley increased their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Finally, Guggenheim reissued a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.00.
Sirius XM Stock Performance
Sirius XM stock opened at $29.80 on Monday. The business has a 50 day moving average of $28.98 and a 200-day moving average of $25.01. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $31.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $10.03 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.64 and a beta of 0.95.
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.
Sirius XM Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio is 45.57%.
Insider Activity
In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.27% of the company’s stock.
More Sirius XM News
Here are the key news stories impacting Sirius XM this week:
- Positive Sentiment: Sirius XM announced a new 24/7 WWE radio channel, replacing its current pro wrestling programming and expanding its sports/entertainment lineup ahead of SummerSlam. WWE partnering with SiriusXM to launch ‘WWE Radio’
- Positive Sentiment: The WWE partnership could help Sirius XM attract and retain subscribers by adding a popular, year-round fan channel and strengthening its exclusive content strategy. SiriusXM to launch 24/7 WWE Radio station
- Positive Sentiment: Analysts are noting that Sirius XM enters its upcoming earnings report with the potential for an earnings beat, which can support sentiment if management confirms improving fundamentals. Sirius XM (SIRI) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
- Positive Sentiment: Management also announced a quarterly dividend of $0.27 per share, reinforcing Sirius XM’s appeal to income-focused investors.
- Neutral Sentiment: Additional coverage highlighted Sirius XM’s move to pick up two Pittsburgh radio stations, but the immediate stock impact is less clear than the WWE announcement. SiriusXM picking up 2 Pittsburgh radio stations
- Neutral Sentiment: Morgan Stanley also reportedly sees strong price appreciation potential for SIRI, adding to the bullish analyst backdrop. Morgan Stanley Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock
Sirius XM Company Profile
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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