Y Intercept Hong Kong Ltd Buys New Position in Sirius XM Holdings Inc. $SIRI

Y Intercept Hong Kong Ltd acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 42,967 shares of the company’s stock, valued at approximately $992,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC raised its position in shares of 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 purchasing an additional 1,195 shares during the period. Rossby Financial LCC boosted its position 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 during the period. Caitong International Asset Management Co. Ltd purchased a new position in Sirius XM in the 4th quarter worth about $40,000. Jessup Wealth Management Inc acquired a new stake in Sirius XM during the 4th quarter worth about $40,000. Finally, Geneos Wealth Management Inc. raised its holdings in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Stock Down 0.9%

Shares of NASDAQ SIRI traded down $0.27 during mid-day trading on Friday, reaching $30.42. The company had a trading volume of 3,216,709 shares, compared to its average volume of 4,306,218. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.66 and a beta of 0.95. The stock has a fifty day moving average of $28.20 and a two-hundred day moving average of $24.29. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $31.42.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, equities research analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, May 11th. Sirius XM’s dividend payout ratio (DPR) is currently 45.57%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Rosenblatt Securities dropped their target price on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Evercore set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 1st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Citigroup reaffirmed a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.45.

About Sirius XM

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.