Townsquare Capital LLC Takes $1 Million Position in Sirius XM Holdings Inc. $SIRI

Key Points

• Townsquare Capital LLC has acquired a new stake in Sirius XM Holdings Inc., purchasing 44,475 shares valued at approximately $1,003,000 during the first quarter.
• Sirius XM's latest quarterly earnings report revealed a miss on EPS estimates with earnings of $0.57, lower than the expected $0.79, alongside a year-over-year revenue decline of 1.8%.
• The company announced a quarterly dividend of $0.27, set to be paid on August 27th, which equates to an annualized yield of 4.7%.

Townsquare Capital LLC purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 44,475 shares of the company's stock, valued at approximately $1,003,000.

A number of other hedge funds also recently bought and sold shares of SIRI. Applied Finance Capital Management LLC raised its stake in shares of Sirius XM by 5.1% in the first quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock valued at $220,000 after acquiring an additional 475 shares during the period. Allegiance Financial Group Advisory Services LLC raised its stake in shares of Sirius XM by 5.5% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock valued at $286,000 after acquiring an additional 660 shares during the period. Polianta Ltd raised its stake in shares of Sirius XM by 1.5% in the first quarter. Polianta Ltd now owns 48,300 shares of the company's stock valued at $1,088,000 after acquiring an additional 700 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of Sirius XM by 79.3% in the first 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. Finally, Nisa Investment Advisors LLC raised its stake in shares of Sirius XM by 37.8% in the first quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company's stock valued at $68,000 after acquiring an additional 823 shares during the period. Hedge funds and other institutional investors own 10.69% of the company's stock.

Insider Transactions at Sirius XM

In other Sirius XM 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 transaction of $36,767.77. Following the transaction, the director directly owned 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Rosenblatt Securities increased their target price on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, August 1st. Guggenheim reaffirmed a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $26.18.

Sirius XM Stock Down 0.5%

Sirius XM stock traded down $0.11 during midday trading on Monday, hitting $22.93. 1,303,102 shares of the company's stock were exchanged, compared to its average volume of 4,481,557. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $36.40. The firm has a 50-day moving average of $22.77 and a two-hundred day moving average of $22.69. The company has a market cap of $7.72 billion, a PE ratio of -3.40, a P/E/G ratio of 0.35 and a beta of 0.92.

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

Sirius XM Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, August 8th. Sirius XM's dividend payout ratio is presently -16.00%.

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.