LSV Asset Management Has $72.09 Million Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• LSV Asset Management increased its stake in Sirius XM Holdings Inc. by 41.5%, acquiring a total of approximately 3.2 million shares worth $72.09 million as of their latest SEC filing.
• Sirius XM's recent quarterly earnings showed an EPS of $0.57, missing analysts' expectations, and its revenue declined by 1.8% year-over-year.
• The company announced a forthcoming quarterly dividend of $0.27 per share, translating to an annual yield of 5.1%, with the ex-dividend date set for August 8th.

LSV Asset Management boosted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 41.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,197,800 shares of the company's stock after buying an additional 937,500 shares during the quarter. LSV Asset Management owned approximately 0.95% of Sirius XM worth $72,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Applied Finance Capital Management LLC raised its position in shares of Sirius XM by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock worth $220,000 after acquiring an additional 475 shares in the last quarter. Allegiance Financial Group Advisory Services LLC raised its position in shares of Sirius XM by 5.5% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock worth $286,000 after acquiring an additional 660 shares in the last quarter. Polianta Ltd raised its position in shares of Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company's stock worth $1,088,000 after acquiring an additional 700 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after acquiring an additional 705 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Sirius XM by 37.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company's stock worth $68,000 after acquiring an additional 823 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the transaction, the director owned 15,471 shares in the company, valued at $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SIRI shares. Morgan Stanley boosted their target price on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Guggenheim reaffirmed a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research report on Thursday, June 26th. Rosenblatt Securities decreased their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research report on Friday. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.42.

Sirius XM Stock Performance

Shares of SIRI opened at $21.18 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.42 and a current ratio of 0.41. The stock has a 50 day moving average price of $22.79 and a two-hundred day moving average price of $22.71. The firm has a market capitalization of $7.16 billion, a P/E ratio of -3.14, a P/E/G ratio of 0.31 and a beta of 0.92. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $36.40.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's payout ratio is currently -16.56%.

About Sirius XM

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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