Kingswood Wealth Advisors LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,734 shares of the company's stock, valued at approximately $524,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SIRI. Brighton Jones LLC bought a new stake in Sirius XM during the fourth quarter worth $622,000. State of New Jersey Common Pension Fund D grew its stake in shares of Sirius XM by 15.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 83,439 shares of the company's stock valued at $1,902,000 after acquiring an additional 11,243 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Sirius XM in the fourth quarter valued at about $253,000. Private Advisor Group LLC bought a new position in Sirius XM in the 4th quarter valued at about $237,000. Finally, Ieq Capital LLC bought a new position in Sirius XM in the 4th quarter valued at about $1,541,000. 10.69% of the stock is owned by institutional investors.
Insider Transactions at Sirius XM
In other news, Director Kristina Salen sold 1,651 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the sale, the director now directly owns 15,471 shares of the company's stock, valued at approximately $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.32% of the company's stock.
Wall Street Analyst Weigh In
SIRI has been the subject of several recent analyst reports. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Rosenblatt Securities cut their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Barrington Research restated an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $26.65.
Get Our Latest Research Report on SIRI
Sirius XM Stock Up 1.2%
Shares of NASDAQ SIRI opened at $21.75 on Friday. The company's 50 day moving average price is $21.55 and its 200-day moving average price is $22.68. The company has a market capitalization of $7.35 billion, a P/E ratio of -3.34, a price-to-earnings-growth ratio of 0.31 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 Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $41.60.
Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. Sirius XM's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.
Sirius XM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is presently -16.56%.
About Sirius XM
(
Free Report)
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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