Cambridge Investment Research Advisors Inc. Purchases 10,876 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cambridge Investment Research Advisors Inc. grew its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 29.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,214 shares of the company's stock after purchasing an additional 10,876 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Sirius XM were worth $1,064,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Kentucky Retirement Systems bought a new stake in shares of Sirius XM in the 1st quarter valued at $331,000. Innealta Capital LLC bought a new stake in shares of Sirius XM in the 1st quarter valued at $298,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Sirius XM in the 1st quarter valued at $524,000. Bfsg LLC increased its position in shares of Sirius XM by 28.4% in the 1st quarter. Bfsg LLC now owns 9,480 shares of the company's stock valued at $214,000 after buying an additional 2,097 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Sirius XM by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,534 shares of the company's stock valued at $2,492,000 after buying an additional 5,858 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Analyst Ratings Changes

SIRI has been the topic of several recent research reports. Guggenheim reissued a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price target on Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday. Barrington Research reissued an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Finally, Rosenblatt Securities dropped their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Six analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of "Hold" and an average price target of $26.42.

Sirius XM Trading Up 1.8%

Shares of NASDAQ:SIRI traded up $0.44 during mid-day trading on Friday, reaching $24.39. 2,624,869 shares of the company's stock were exchanged, compared to its average volume of 4,866,470. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -3.74, a PEG ratio of 0.34 and a beta of 0.92. The business's fifty day moving average price is $22.05 and its 200-day moving average price is $22.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.20.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.11). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. Sirius XM's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, May 9th. Sirius XM's payout ratio is presently -16.56%.

Insider Activity at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the transaction, the director directly owned 15,471 shares of the company's stock, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by insiders.

Sirius XM Company 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.