Havemeyer Place LP Acquires New Position in Sirius XM Holdings Inc. $SIRI

Key Points

• Havemeyer Place LP opened a new position in Sirius XM during the fourth quarter, buying 38,100 shares worth about $762,000.
• Several other large investors also boosted their stakes, including Berkshire Hathaway, while institutional investors now own 10.69% of Sirius XM’s stock.
• Sirius XM reported better-than-expected quarterly earnings of $0.72 per share and revenue of $2.09 billion, and it pays a 3.9% dividend yield. Analysts currently have a consensus rating of Hold with a $27.45 price target.

Havemeyer Place LP acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,100 shares of the company's stock, valued at approximately $762,000.

A number of other hedge funds have also added to or reduced their stakes in SIRI. Berkshire Hathaway Inc increased its stake in Sirius XM by 4.2% in the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company's stock valued at $2,904,886,000 after acquiring an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC increased its stake in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock valued at $117,327,000 after acquiring an additional 3,233,922 shares during the last quarter. Norges Bank bought a new position in Sirius XM in the fourth quarter valued at approximately $57,124,000. Bank of New York Mellon Corp increased its stake in Sirius XM by 253.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,019,901 shares of the company's stock valued at $40,388,000 after acquiring an additional 1,449,036 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Sirius XM by 270.0% in the third quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company's stock valued at $45,003,000 after acquiring an additional 1,410,963 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

NASDAQ SIRI opened at $27.44 on Tuesday. The firm's fifty day moving average price is $26.26 and its two-hundred day moving average price is $23.03. The stock has a market cap of $9.24 billion, a PE ratio of 11.58, a PEG ratio of 0.58 and a beta of 0.96. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $30.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Sirius XM's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 3.9%. Sirius XM's payout ratio is currently 45.57%.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider owned 20,163 shares of the company's stock, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SIRI shares. JPMorgan Chase & Co. lifted their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Evercore set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 1st. Rosenblatt Securities decreased their target price on shares of Sirius XM from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. UBS Group set a $24.00 target price on shares of Sirius XM in a research note on Tuesday, February 10th. Finally, Citigroup reaffirmed a "sell" rating and set a $22.00 target price (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $27.45.

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.

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