First Trust Advisors LP Raises Stake in Sirius XM Holdings Inc. $SIRI

First Trust Advisors LP increased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 154.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 952,013 shares of the company’s stock after buying an additional 578,103 shares during the period. First Trust Advisors LP’s holdings in Sirius XM were worth $21,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIRI. Dimensional Fund Advisors LP raised its holdings in shares of Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares during the period. AQR Capital Management LLC increased its position in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares during the last quarter. Norges Bank purchased a new stake in Sirius XM in the fourth quarter worth $57,124,000. Hsbc Holdings PLC raised its stake in shares of Sirius XM by 858.4% in the fourth quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after buying an additional 1,859,872 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of Sirius XM during the 4th quarter valued at $34,548,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of research reports. Wells Fargo & Company set a $30.00 price objective on Sirius XM and gave the company an “equal weight” rating in a research note on Monday. Benchmark restated a “buy” rating on shares of Sirius XM in a research note on Wednesday. Barrington Research lifted their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of Sirius XM in a report on Tuesday. Finally, Citigroup reaffirmed a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.64.

Sirius XM Stock Performance

Sirius XM stock opened at $32.59 on Thursday. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $10.97 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The firm’s 50 day simple moving average is $29.30 and its 200 day simple moving average is $25.23.

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

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is presently 45.57%.

Sirius XM 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.