Old West Investment Management LLC acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 556,966 shares of the company's stock, valued at approximately $22,000,000. Sirius XM comprises 2.3% of Old West Investment Management LLC's investment portfolio, making the stock its 8th biggest holding. Old West Investment Management LLC owned about 0.17% of Sirius XM as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC bought a new stake in shares of Sirius XM during the fourth quarter worth approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company's stock valued at $20,861,000 after acquiring an additional 92,111 shares during the last quarter. Focus Partners Wealth boosted its stake in Sirius XM by 5.2% in the first quarter. Focus Partners Wealth now owns 16,273 shares of the company's stock valued at $367,000 after acquiring an additional 800 shares during the last quarter. Geneos Wealth Management Inc. grew 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 acquiring an additional 493 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Sirius XM during the 2nd quarter worth $208,000. Institutional investors own 10.69% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on SIRI. Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price target on shares of Sirius XM in a research note on Tuesday, July 28th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Morgan Stanley upped their price objective on Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Benchmark reissued a "buy" rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.92.
View Our Latest Analysis on Sirius XM
Insider Activity
In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director directly owned 18,354 shares of the company's stock, valued at approximately $550,069.38. The trade was a 47.60% 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. Also, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares of the company's stock, valued at $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.27% of the company's stock.
Sirius XM Price Performance
Shares of NASDAQ:SIRI opened at $28.46 on Monday. The company has a 50 day moving average price of $29.47 and a two-hundred day moving average price of $25.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $9.59 billion, a PE ratio of 11.38, a PEG ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66.
Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly 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 the consensus estimate of $2.14 billion. During the same period in the prior year, the business earned $0.57 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.
Sirius XM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM's payout ratio is currently 43.20%.
Sirius XM Profile
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Free Report)
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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