First Trust Advisors LP Acquires 578,103 Shares of Sirius XM Holdings Inc. $SIRI

First Trust Advisors LP lifted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 154.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 952,013 shares of the company's stock after buying an additional 578,103 shares during the quarter. First Trust Advisors LP owned about 0.28% of Sirius XM worth $21,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Himension Capital Singapore PTE. LTD. acquired a new position in shares of Sirius XM during the 1st quarter valued at $928,000. Meeder Asset Management Inc. acquired a new stake in Sirius XM in the first quarter worth $51,000. Aldebaran Capital LLC increased its stake in Sirius XM by 8.5% in the first quarter. Aldebaran Capital LLC now owns 115,403 shares of the company's stock valued at $2,664,000 after purchasing an additional 9,056 shares in the last quarter. Meeder Advisory Services Inc. acquired a new position in shares of Sirius XM during the first quarter valued at about $348,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company's stock valued at $145,426,000 after buying an additional 4,560,821 shares during the period. Institutional investors own 10.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SIRI shares. Benchmark reaffirmed a "buy" rating on shares of Sirius XM in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Sirius XM from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Guggenheim restated a "buy" rating on shares of Sirius XM in a report on Wednesday, June 17th. UBS Group set a $30.00 target price on Sirius XM in a research report on Wednesday. Finally, Weiss Ratings raised shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.64.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.27% of the company's stock.

Sirius XM Stock Up 2.9%

SIRI stock opened at $32.59 on Thursday. The firm has a market capitalization of $10.97 billion, a PE ratio of 13.75, a P/E/G ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66. The stock's 50 day moving average is $29.30 and its 200-day moving average is $25.23.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm posted $0.59 EPS. Sirius XM's quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th 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 3.3%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM's dividend payout ratio (DPR) is presently 45.57%.

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.

Want to see what other hedge funds are holding SIRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.