RFG Advisory LLC Boosts Stake in Sirius XM Holdings Inc (SIRI)

RFG Advisory LLC lifted its holdings in Sirius XM Holdings Inc (NASDAQ:SIRI) by 57.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,846 shares of the company’s stock after buying an additional 14,473 shares during the period. RFG Advisory LLC’s holdings in Sirius XM were worth $227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. We Are One Seven LLC bought a new position in shares of Sirius XM in the fourth quarter worth $41,000. Bruderman Asset Management LLC increased its holdings in shares of Sirius XM by 268.3% in the fourth quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock worth $49,000 after purchasing an additional 6,241 shares during the period. CWM LLC increased its holdings in shares of Sirius XM by 127.2% in the fourth quarter. CWM LLC now owns 8,959 shares of the company’s stock worth $51,000 after purchasing an additional 5,015 shares during the period. Sound View Wealth Advisors LLC bought a new position in shares of Sirius XM in the fourth quarter worth $57,000. Finally, Hurlow Wealth Management Group Inc. bought a new position in shares of Sirius XM in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 17.12% of the company’s stock.

In related news, EVP Stephen Cook sold 56,118 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $6.13, for a total value of $344,003.34. Following the completion of the transaction, the executive vice president now directly owns 1,445,007 shares of the company’s stock, valued at $8,857,892.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Arthur Cady sold 588,503 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the completion of the transaction, the executive vice president now directly owns 1,840,070 shares of the company’s stock, valued at $11,279,629.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 693,134 shares of company stock valued at $4,245,516. 0.76% of the stock is currently owned by company insiders.

SIRI has been the topic of several research analyst reports. BidaskClub cut shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Friday, January 25th. JPMorgan Chase & Co. raised Sirius XM from an “underweight” rating to an “overweight” rating and increased their target price for the company from $6.00 to $7.00 in a research note on Wednesday, January 2nd. Pivotal Research reissued a “hold” rating and issued a $7.00 target price on shares of Sirius XM in a research note on Thursday, January 31st. Zacks Investment Research cut Sirius XM from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Macquarie set a $8.00 target price on Sirius XM and gave the company a “buy” rating in a research note on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.26.

Shares of Sirius XM stock traded up $0.05 during trading on Friday, reaching $6.10. 19,812,507 shares of the stock were exchanged, compared to its average volume of 31,022,976. The firm has a market cap of $27.40 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.44 and a beta of 1.04. Sirius XM Holdings Inc has a 1 year low of $5.48 and a 1 year high of $7.70.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. Sirius XM’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. Sell-side analysts anticipate that Sirius XM Holdings Inc will post 0.22 earnings per share for the current year.

Sirius XM declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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