Wealthquest Corp Invests $7.74 Million in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• Wealthquest Corp has invested approximately $7.74 million in Sirius XM Holdings Inc. by acquiring 343,360 shares, representing about 0.10% of the company's total shares.
• Berkshire Hathaway has significantly increased its stake in Sirius XM, purchasing an additional 12.3 million shares in the last quarter, bringing its total share count to over 117 million.
• Sirius XM reported disappointing quarterly results, with $0.57 earnings per share, missing estimates by $0.19, and a revenue decline of 1.8% year-over-year.

Wealthquest Corp bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 343,360 shares of the company's stock, valued at approximately $7,743,000. Wealthquest Corp owned approximately 0.10% of Sirius XM at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIRI. Berkshire Hathaway Inc grew its position in Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after purchasing an additional 12,313,544 shares in the last quarter. LSV Asset Management bought a new stake in Sirius XM in the 4th quarter worth about $51,535,000. Norges Bank bought a new stake in Sirius XM in the 4th quarter worth about $28,269,000. Toronto Dominion Bank purchased a new position in Sirius XM in the fourth quarter valued at about $22,398,000. Finally, Ensign Peak Advisors Inc purchased a new position in Sirius XM in the fourth quarter valued at about $19,052,000. 10.69% of the stock is owned by institutional investors.

Insider Activity at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 15,471 shares of the company's stock, valued at approximately $344,539.17. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIRI shares. Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Barrington Research restated an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Guggenheim restated a "buy" rating and set a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Wells Fargo & Company increased their target price on shares of Sirius XM from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Finally, Rosenblatt Securities lowered 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 note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Sirius XM Price Performance

SIRI stock opened at $22.93 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $36.40. The firm's fifty day moving average is $22.82 and its 200 day moving average is $22.71. The firm has a market cap of $7.75 billion, a P/E ratio of -3.52, a P/E/G ratio of 0.34 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.19). Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. Research analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 4.71%. Sirius XM's dividend payout ratio is -16.56%.

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.

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