Gamco Investors INC. ET AL reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 403,959 shares of the company’s stock after selling 20,280 shares during the period. Gamco Investors INC. ET AL’s holdings in Sirius XM were worth $9,323,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in SIRI. Dimensional Fund Advisors LP increased its holdings in shares of Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Norges Bank acquired a new position in Sirius XM during the fourth quarter worth about $57,124,000. Hsbc Holdings PLC grew its position in Sirius XM by 858.4% during the fourth quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock worth $41,726,000 after buying an additional 1,859,872 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in Sirius XM in the fourth quarter valued at about $34,548,000. 10.69% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.27% of the stock is owned by corporate insiders.
Trending Headlines about Sirius XM
- 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
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Barrington Research upped their price target on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Citigroup reaffirmed a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.00.
Check Out Our Latest Stock Report on SIRI
Sirius XM Stock Performance
NASDAQ SIRI opened at $29.80 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $31.42. The business has a fifty day moving average of $28.98 and a 200-day moving average of $25.01. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95.
Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. As a group, analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.
Sirius XM Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid 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 of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is currently 45.57%.
Sirius XM 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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