Kentucky Retirement Systems Purchases Shares of 14,687 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Kentucky Retirement Systems bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,687 shares of the company's stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SIRI. Opal Wealth Advisors LLC acquired a new position in shares of Sirius XM during the 1st quarter worth approximately $25,000. Union Bancaire Privee UBP SA acquired a new position in Sirius XM during the fourth quarter worth $26,000. Putney Financial Group LLC acquired a new position in shares of Sirius XM during the 4th quarter worth about $27,000. First Command Advisory Services Inc. acquired a new position in shares of Sirius XM during the 4th quarter worth about $30,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Sirius XM by 255.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the transaction, the director now directly owns 15,471 shares of the company's stock, valued at $344,539.17. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.32% of the company's stock.

Sirius XM Trading Up 0.2%

SIRI stock opened at $22.45 on Thursday. The company's 50-day simple moving average is $21.66 and its 200 day simple moving average is $22.61. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $41.60. The company has a market capitalization of $7.59 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.91. 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 (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Friday, May 9th. Sirius XM's payout ratio is currently -16.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SIRI. Rosenblatt Securities lowered their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sirius XM has an average rating of "Hold" and a consensus price target of $26.17.

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.

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