Pallas Capital Advisors LLC Purchases Shares of 21,705 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Pallas Capital Advisors LLC bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,705 shares of the company's stock, valued at approximately $489,000.

Other hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new position in Sirius XM during the 4th quarter valued at $26,000. Putney Financial Group LLC purchased a new stake in shares of Sirius XM in the fourth quarter valued at about $27,000. First Command Advisory Services Inc. bought a new position in shares of Sirius XM during the fourth quarter valued at about $30,000. Itau Unibanco Holding S.A. boosted its holdings in Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Sirius XM in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Stock Performance

NASDAQ SIRI traded down $0.62 during trading on Friday, hitting $21.29. 3,684,236 shares of the company's stock traded hands, compared to its average volume of 5,145,569. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -3.32, a PEG ratio of 0.79 and a beta of 0.91. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $41.60. The business has a 50 day moving average of $21.37 and a 200-day moving average of $22.94.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.07%. Sirius XM's dividend payout ratio (DPR) is presently -16.56%.

Insider Buying and Selling

In other news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director now directly owns 15,471 shares of the company's stock, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent analyst reports. Barrington Research reissued an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 2nd. Rosenblatt Securities decreased their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.65.

Sirius XM Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.