Tidal Investments LLC Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Tidal Investments LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,012 shares of the company's stock, valued at approximately $775,000.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in shares of Sirius XM by 21.2% during the fourth quarter. State of Alaska Department of Revenue now owns 234,242 shares of the company's stock valued at $5,340,000 after acquiring an additional 41,000 shares during the period. Check Capital Management Inc. CA raised its position 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 worth $26,123,000 after acquiring an additional 981,517 shares in the last quarter. Legato Capital Management LLC raised its holdings in Sirius XM by 21.9% during the 4th quarter. Legato Capital Management LLC now owns 85,500 shares of the company's stock worth $1,949,000 after buying an additional 15,342 shares during the period. MBA Advisors LLC acquired a new stake in Sirius XM during the 4th quarter worth about $228,000. Finally, Berkshire Hathaway Inc raised its holdings in Sirius XM by 11.7% during the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after buying an additional 12,313,544 shares during the period. Institutional investors and hedge funds own 10.69% of the company's stock.

Insider Activity at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 15,471 shares in the company, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.32% of the company's stock.

Sirius XM Stock Performance

Shares of NASDAQ SIRI traded down $0.70 during trading hours on Friday, reaching $21.69. The stock had a trading volume of 3,510,922 shares, compared to its average volume of 5,129,221. The business's fifty day moving average is $21.39 and its two-hundred day moving average is $23.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $7.33 billion, a price-to-earnings ratio of -3.38, a PEG ratio of 0.79 and a beta of 0.90. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, research analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is currently -16.56%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Rosenblatt Securities cut their price objective 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 research note on Tuesday, April 8th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.65.

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.