Seizert Capital Partners LLC Increases Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• Seizert Capital Partners LLC increased its holdings in Sirius XM by 0.5%, now owning approximately 2,281,165 shares valued at $51.4 million, making it the 12th largest position in their portfolio.
• Berkshire Hathaway Inc significantly boosted its Sirius XM holdings by 11.7% in the fourth quarter, acquiring over 12 million additional shares, bringing its total to approximately 117.5 million shares worth about $2.68 billion.
• Sirius XM's recent financial performance was mixed, with earnings of $0.59 EPS falling short of expectations, and revenue down 4.3% year-over-year, while the company also announced a quarterly dividend of $0.27.

Seizert Capital Partners LLC raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 0.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,281,165 shares of the company's stock after purchasing an additional 11,549 shares during the period. Sirius XM accounts for approximately 2.4% of Seizert Capital Partners LLC's portfolio, making the stock its 12th largest position. Seizert Capital Partners LLC owned 0.67% of Sirius XM worth $51,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Sirius XM in the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Sirius XM during the 4th quarter valued at $27,000. Deseret Mutual Benefit Administrators lifted its position in shares of Sirius XM by 79.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after acquiring an additional 705 shares during the period. Itau Unibanco Holding S.A. lifted its position 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 valued at $42,000 after acquiring an additional 1,321 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of Sirius XM by 3,263.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock valued at $46,000 after acquiring an additional 1,958 shares during the period. Institutional investors and hedge funds own 10.69% of the company's stock.

Sirius XM Price Performance

Shares of Sirius XM stock traded up $0.06 on Friday, reaching $21.18. The stock had a trading volume of 9,041,781 shares, compared to its average volume of 3,403,733. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $36.40. The company has a market cap of $7.16 billion, a P/E ratio of -3.14, a price-to-earnings-growth ratio of 0.30 and a beta of 0.92. The company has a current ratio of 0.41, a quick ratio of 0.42 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $22.80 and its two-hundred day moving average is $22.71.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.13 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be given 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 is Friday, August 8th. Sirius XM's dividend payout ratio (DPR) is presently -16.56%.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the transaction, the director directly owned 15,471 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SIRI shares. Rosenblatt Securities dropped their target price on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company dropped their target price on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday. Barrington Research restated an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a report on Friday. Morgan Stanley upped their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Finally, Guggenheim reiterated a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sirius XM currently has an average rating of "Hold" and a consensus target price of $26.42.

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.