Wealthquest Corp Acquires New Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Wealthquest Corp bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 343,360 shares of the company's stock, valued at approximately $7,743,000. Sirius XM comprises approximately 0.7% of Wealthquest Corp's investment portfolio, making the stock its 13th largest position. Wealthquest Corp owned about 0.10% of Sirius XM at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Xponance Inc. increased its stake in Sirius XM by 4.5% in the 4th quarter. Xponance Inc. now owns 12,341 shares of the company's stock valued at $281,000 after buying an additional 527 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sirius XM by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company's stock valued at $339,000 after acquiring an additional 630 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of Sirius XM by 4.3% during the fourth quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company's stock valued at $358,000 after acquiring an additional 643 shares during the last quarter. Polianta Ltd increased its position in shares of Sirius XM by 1.5% during 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 last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Sirius XM by 5.9% during the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company's stock worth $325,000 after acquiring an additional 791 shares during the period. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

SIRI traded up $0.04 on Wednesday, hitting $22.45. The company's stock had a trading volume of 2,134,759 shares, compared to its average volume of 4,957,506. The company's 50 day simple moving average is $21.61 and its 200-day simple moving average is $22.61. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.60. The firm has a market cap of $7.59 billion, a P/E ratio of -3.44, a price-to-earnings-growth ratio of 0.31 and a beta of 0.91.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.11). The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. Sirius XM's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. Analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Friday, May 9th. Sirius XM's dividend payout ratio is presently -16.56%.

Insider Activity

In related news, Director Kristina Salen sold 1,651 shares of the business's 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 completion of the transaction, the director now owns 15,471 shares of the company's stock, valued at approximately $344,539.17. The trade was 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 accessible through the SEC website. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SIRI. Rosenblatt Securities lowered their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $26.17.

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.