Vestcor Inc Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• Vestcor Inc has acquired a new stake in Sirius XM Holdings Inc., purchasing 24,026 shares valued at approximately $542,000.
• Despite a reported earnings per share of $0.57 for the last quarter, Sirius XM fell below analyst expectations of $0.79, indicating a 1.8% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.27 per share, with a yield of 5.1%, set to be paid on August 27th.

Vestcor Inc purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,026 shares of the company's stock, valued at approximately $542,000.

A number of other large investors have also recently added to or reduced their stakes in SIRI. Opal Wealth Advisors LLC purchased a new stake in shares of Sirius XM in the 1st quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in Sirius XM in the fourth quarter valued at approximately $27,000. Deseret Mutual Benefit Administrators lifted its stake in Sirius XM by 79.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after purchasing an additional 705 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after buying an additional 1,321 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Sirius XM by 3,263.3% in the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock valued at $46,000 after buying an additional 1,958 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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 value of $36,767.77. Following the completion of the transaction, the director owned 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.32% of the stock is owned by company insiders.

Sirius XM Stock Down 3.5%

Shares of Sirius XM stock traded down $0.77 during trading on Wednesday, hitting $20.97. 5,887,160 shares of the stock were exchanged, compared to its average volume of 4,009,760. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 0.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. The firm's 50-day moving average price is $22.77 and its 200 day moving average price is $22.71. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $36.40.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.22). The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%. Sirius XM's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's dividend payout ratio (DPR) is -16.00%.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several research reports. Barrington Research reissued an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. 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 report on Friday, August 1st. Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Morgan Stanley upped their target price on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Finally, Rosenblatt Securities increased their target price on shares of Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.50.

Sirius XM Company 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.