Invenomic Capital Management LP Purchases New Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Invenomic Capital Management LP acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 178,908 shares of the company's stock, valued at approximately $4,079,000. Invenomic Capital Management LP owned about 0.05% of Sirius XM at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new stake in shares of Sirius XM in the 4th quarter worth about $26,000. First Command Advisory Services Inc. bought a new position in Sirius XM in the fourth quarter worth about $30,000. Geneos Wealth Management Inc. raised its stake in Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock worth $31,000 after buying an additional 1,144 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Sirius XM by 255.5% in 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, Gables Capital Management Inc. bought a new stake in Sirius XM during the 4th quarter valued at approximately $43,000. 10.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SIRI shares. Morgan Stanley lowered their target price on Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a research note on Thursday, January 23rd. Rosenblatt Securities decreased their price objective on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Guggenheim reduced their target price on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $26.65.

Sirius XM Stock Up 2.2%

Shares of NASDAQ SIRI traded up $0.48 on Thursday, reaching $22.36. 3,386,846 shares of the company's stock traded hands, compared to its average volume of 5,123,949. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.60. The business's 50 day simple moving average is $21.61 and its two-hundred day simple moving average is $23.57. The company has a market cap of $7.56 billion, a price-to-earnings ratio of -3.49, a price-to-earnings-growth ratio of 0.79 and a beta of 0.90. 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 (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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. Sirius XM's revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. As a group, equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is currently -16.56%.

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.