Private Advisor Group LLC Increases Stake in Sirius XM Holdings Inc. $SIRI

Private Advisor Group LLC lifted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 96.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 95,350 shares of the company’s stock after buying an additional 46,936 shares during the period. Private Advisor Group LLC’s holdings in Sirius XM were worth $2,201,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SIRI. Brighton Jones LLC purchased a new stake in shares of Sirius XM in the 4th quarter worth approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock valued at $20,861,000 after buying an additional 92,111 shares during the period. Focus Partners Wealth increased its holdings in Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. raised its stake in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in Sirius XM in the second quarter worth approximately $208,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several recent research reports. Evercore set a $28.00 target price on Sirius XM in a research report on Friday, May 1st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Finally, Citigroup reiterated a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.45.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.27% of the stock is owned by company insiders.

Sirius XM Stock Down 0.9%

NASDAQ:SIRI opened at $30.42 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $31.42. The company has a market cap of $10.24 billion, a PE ratio of 12.84, a P/E/G ratio of 0.66 and a beta of 0.95. The company’s 50 day moving average is $28.20 and its two-hundred day moving average is $24.29.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Analysts anticipate that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, May 11th. Sirius XM’s payout ratio is presently 45.57%.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.