Camelot Portfolios LLC Has $1.39 Million Stake in Sirius XM Holdings Inc. $SIRI

Camelot Portfolios LLC reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 31.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,137 shares of the company’s stock after selling 21,496 shares during the period. Sirius XM accounts for approximately 0.9% of Camelot Portfolios LLC’s investment portfolio, making the stock its 24th biggest position. Camelot Portfolios LLC’s holdings in Sirius XM were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SIRI. Jones Financial Companies Lllp acquired a new stake in shares of Sirius XM in the second quarter valued at about $25,000. Aberdeen Wealth Management LLC acquired a new position in shares of Sirius XM in the second quarter worth approximately $26,000. Sunbelt Securities Inc. lifted its stake in shares of Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after acquiring an additional 794 shares during the period. Root Financial Partners LLC boosted its holdings in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Sirius XM during the 2nd quarter valued at approximately $32,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Key Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: New sports programming could support engagement. Former LSU football coach Brian Kelly is joining SiriusXM for a weekly show, adding recognizable talent to the company’s sports lineup and potentially helping attract and retain subscribers. Brian Kelly joins SiriusXM for weekly show
• Neutral Sentiment: Howard Stern reportedly has an HBO Max agreement. Reports say Stern may take an edited weekly version of his SiriusXM program to HBO Max after his SiriusXM channel changes. The deal could broaden the show’s audience and maintain Stern’s visibility, but it also raises questions about whether SiriusXM will retain exclusive content and the full value of the relationship. Howard Stern reportedly lands HBO Max deal
• Neutral Sentiment: A director received additional Sirius XM shares. Director Anjali Sud was credited with 60 shares through a dividend-related restricted stock unit transaction. Because the shares were not described as an open-market purchase, the move provides limited evidence of increased insider conviction. Sirius XM director share acquisition
• Negative Sentiment: SiriusXM is dropping Howard Stern’s Channel 101 after staff layoffs. Reports indicate the company eliminated one of two Stern channels following layoffs affecting roughly a dozen staff members. The move may reduce programming costs, but it could also weaken the service’s premium content offering and increase churn risk if Stern’s audience follows him to HBO Max. Howard Stern channel dropped by SiriusXM

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SIRI. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a report on Friday, August 7th. Citigroup reissued a “sell” rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Wells Fargo & Company boosted their target price on shares of Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Barrington Research boosted their price objective on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.92.

Sirius XM Price Performance

SIRI stock opened at $28.54 on Monday. The stock’s 50 day simple moving average is $29.65 and its 200 day simple moving average is $26.53. The company has a market cap of $9.62 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Sirius XM’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is presently 43.20%.

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.