D.A. Davidson & CO. Buys 36,289 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• D.A. Davidson increased its Sirius XM stake by 39.7% in the third quarter, purchasing 36,289 additional shares and bringing its holdings to 127,631 shares valued at approximately $3.3 million.
• Sirius XM reported quarterly EPS of $0.78, slightly exceeding estimates, while revenue fell 0.4% year over year to $2.15 billion. The company declared a quarterly dividend of $0.27 per share, representing a 3.7% annualized yield.
• The stock opened at $29.57, below its 12-month high of $32.66. Analysts maintain a consensus “Hold” rating with a target price of $32.75, while institutional investors own 10.69% of the company.

D.A. Davidson & CO. grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 39.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,631 shares of the company's stock after buying an additional 36,289 shares during the period. D.A. Davidson & CO.'s holdings in Sirius XM were worth $3,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC raised its holdings in Sirius XM by 14.0% in the third quarter. Signaturefd LLC now owns 8,222 shares of the company's stock valued at $213,000 after buying an additional 1,007 shares during the period. Sterling Capital Management LLC grew its stake in Sirius XM by 3.8% during the third quarter. Sterling Capital Management LLC now owns 112,619 shares of the company's stock worth $2,915,000 after buying an additional 4,086 shares during the period. Inspire Investing LLC grew its stake in Sirius XM by 4.0% during the third quarter. Inspire Investing LLC now owns 113,427 shares of the company's stock worth $2,935,000 after buying an additional 4,331 shares during the period. Nisa Investment Advisors LLC grew its stake in Sirius XM by 79.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,330 shares of the company's stock worth $86,000 after buying an additional 1,473 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Sirius XM by 19.7% in the third quarter. IFP Advisors Inc now owns 152,366 shares of the company's stock worth $3,943,000 after acquiring an additional 25,095 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Price Performance

SIRI opened at $29.57 on Tuesday. The company has a fifty day simple moving average of $27.54 and a 200 day simple moving average of $26.21. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.50 and a beta of 0.98. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Equities research analysts expect that Sirius XM Holdings Inc. will post 3.00 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 6th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 6th. Sirius XM's payout ratio is presently 44.26%.

Insider Activity at Sirius XM

In related 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SIRI. Weiss Ratings raised shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Morgan Stanley increased their price target on Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. BNP Paribas Exane lowered Sirius XM to a "neutral" rating in a research report on Wednesday, September 2nd. William Blair upgraded Sirius XM to a "market perform" rating in a research note on Wednesday, September 2nd. Finally, Scotiabank began coverage on Sirius XM in a research note on Wednesday, September 2nd. They set an "outperform" rating on the stock. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.75.

Sirius XM Company Profile

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.

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