Sigma Planning Corp raised its stake in Sirius XM Holdings Inc (NASDAQ:SIRI) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,763 shares of the company’s stock after buying an additional 2,288 shares during the period. Sigma Planning Corp’s holdings in Sirius XM were worth $129,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in shares of Sirius XM by 62.5% in the 1st quarter. Quadrant Capital Group LLC now owns 5,650 shares of the company’s stock valued at $30,000 after buying an additional 2,174 shares during the last quarter. We Are One Seven LLC bought a new stake in shares of Sirius XM in the 4th quarter valued at about $41,000. Bruderman Asset Management LLC boosted its position in shares of Sirius XM by 268.3% during the 4th quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock valued at $49,000 after purchasing an additional 6,241 shares in the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Sirius XM during the 4th quarter valued at about $49,000. Finally, CWM LLC boosted its position in shares of Sirius XM by 127.2% during the 4th quarter. CWM LLC now owns 8,959 shares of the company’s stock valued at $51,000 after purchasing an additional 5,015 shares in the last quarter. Hedge funds and other institutional investors own 16.91% of the company’s stock.
Several brokerages recently commented on SIRI. Zacks Investment Research lowered Sirius XM from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. BidaskClub lowered Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Pivotal Research restated a “hold” rating and set a $7.00 target price on shares of Sirius XM in a research report on Thursday, January 31st. Morgan Stanley began coverage on Sirius XM in a research report on Friday, March 15th. They set an “equal weight” rating and a $6.50 target price on the stock. Finally, B. Riley restated a “buy” rating on shares of Sirius XM in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.29.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Sirius XM had a negative return on equity of 96.85% and a net margin of 17.08%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. Equities research analysts expect that Sirius XM Holdings Inc will post 0.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be issued a $0.0121 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.05 annualized dividend and a yield of 0.86%. Sirius XM’s payout ratio is currently 19.23%.
Sirius XM declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 29th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Sirius XM news, EVP James Arthur Cady sold 588,503 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total value of $3,607,523.39. Following the transaction, the executive vice president now owns 1,840,070 shares in the company, valued at $11,279,629.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.
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About Sirius XM
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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