Point72 Asset Management L.P. Acquires New Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Point72 Asset Management L.P. purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,802 shares of the company's stock, valued at approximately $383,000.

Other large investors also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc raised its stake in shares of Sirius XM by 11.7% in the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock valued at $2,678,283,000 after acquiring an additional 12,313,544 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Sirius XM in the fourth quarter valued at $51,535,000. Norges Bank purchased a new position in Sirius XM in the fourth quarter valued at $28,269,000. Check Capital Management Inc. CA increased its holdings in Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock valued at $26,123,000 after buying an additional 981,517 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Sirius XM in the fourth quarter valued at $19,052,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Performance

Shares of NASDAQ SIRI traded down $0.14 during midday trading on Thursday, reaching $22.26. 566,964 shares of the company were exchanged, compared to its average volume of 5,123,690. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60. The stock has a fifty day simple moving average of $21.47 and a 200 day simple moving average of $23.26. The stock has a market cap of $7.52 billion, a P/E ratio of -3.47, a PEG ratio of 0.79 and a beta of 0.90.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the prior year, the business earned $0.07 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal 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 issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio is currently -16.56%.

Wall Street Analyst Weigh In

Several research firms recently commented on SIRI. Rosenblatt Securities dropped their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Guggenheim dropped their target price on Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Barrington Research reissued an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Sirius XM currently has an average rating of "Hold" and an average target price of $26.65.

Sirius XM 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.