Fund 1 Investments LLC Acquires Shares of 349,173 Sirius XM Holdings Inc. $SIRI

Fund 1 Investments LLC acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, HoldingsChannel reports. The firm acquired 349,173 shares of the company’s stock, valued at approximately $10,315,000. Sirius XM accounts for approximately 1.7% of Fund 1 Investments LLC’s holdings, making the stock its 20th biggest holding.

Several other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Sirius XM in the second quarter worth about $32,000. Sunbelt Securities Inc. boosted its stake in Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after buying an additional 794 shares during the last quarter. Root Financial Partners LLC grew its holdings in Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after buying an additional 1,195 shares in the last quarter. Western Wealth Management LLC purchased a new position in Sirius XM during the 1st quarter valued at approximately $33,000. Finally, Altshuler Shaham Ltd increased its stake in Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after acquiring an additional 417 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $28.99 on Friday. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.63 and a beta of 0.95. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66. The firm’s 50-day moving average is $29.74 and its 200 day moving average is $26.75. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Research analysts predict that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, August 10th. Sirius XM’s dividend payout ratio is presently 43.20%.

Sirius XM News Roundup

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Deutsche Bank upgraded Sirius XM to Buy from Hold and raised its price target to $45 from $31. The firm sees significant upside from SiriusXM’s transition toward digital audio and believes the market is underestimating the company’s growth potential. The upgrade previously drove a strong one-day rally and remains the primary bullish catalyst for SIRI. Deutsche Bank sees significant upside from digital audio
• Positive Sentiment: Valuation-focused coverage continues to argue that Sirius XM remains inexpensive. Discounted cash-flow analysis and earnings-based multiples reportedly indicate that the stock trades below estimated intrinsic value, despite a roughly 45% year-to-date advance. This supports the case for additional upside if operating performance improves. Sirius XM stock still looks cheap on cash flow and earnings
• Neutral Sentiment: SiriusXM is expanding sports programming. New York Giants defensive tackle Shelby Harris will host “The Players’ Point” on SiriusXM NFL Radio, adding talent and content to the company’s sports offering. The announcement is strategically supportive but is unlikely to materially change near-term financial results. Shelby Harris to host The Players’ Point
• Negative Sentiment: Howard Stern’s reduced schedule and reported studio shake-up introduce programming uncertainty. Reports that Stern will host only one show per week, with his New York studios potentially being used by other SiriusXM talent, could raise concerns about retaining a major audience draw and managing content costs. Howard Stern’s reduced SiriusXM role
• Negative Sentiment: Investors may be consolidating gains after the recent upgrade-driven surge. Although Deutsche Bank’s $45 target is highly bullish, the stock’s substantial year-to-date gain makes the shares more vulnerable to profit-taking and concerns that the optimistic outlook is already partly reflected in the price. Sirius XM gets a Deutsche Bank upgrade

Insider Buying and Selling at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Guggenheim reissued a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Wolfe Research initiated coverage on shares of Sirius XM in a research report on Wednesday. They issued an “outperform” rating on the stock. BNP Paribas Exane downgraded shares of Sirius XM to a “neutral” rating in a research note on Wednesday. Finally, Scotiabank initiated coverage on shares of Sirius XM in a research report on Wednesday. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.00.

About Sirius XM

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.