Invenomic Capital Management LP Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Invenomic Capital Management LP purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 178,908 shares of the company’s stock, valued at approximately $4,079,000. Invenomic Capital Management LP owned approximately 0.05% of Sirius XM as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SIRI. Gotham Asset Management LLC boosted its stake in shares of Sirius XM by 123.6% during the fourth quarter. Gotham Asset Management LLC now owns 442,679 shares of the company’s stock valued at $10,093,000 after acquiring an additional 244,736 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Sirius XM during the fourth quarter valued at $371,000. Ensign Peak Advisors Inc acquired a new stake in shares of Sirius XM during the fourth quarter valued at $19,052,000. Crestline Management LP acquired a new stake in shares of Sirius XM during the fourth quarter valued at $1,253,000. Finally, Cetera Investment Advisers boosted its stake in shares of Sirius XM by 36.4% during the fourth quarter. Cetera Investment Advisers now owns 36,413 shares of the company’s stock valued at $830,000 after acquiring an additional 9,710 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SIRI. Seaport Res Ptn raised Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Guggenheim reduced their price objective on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reduced their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Rosenblatt Securities reduced their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $26.65.

Sirius XM Stock Down 0.7%

NASDAQ:SIRI opened at $21.57 on Monday. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -3.37, a PEG ratio of 0.79 and a beta of 0.90. The stock has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $23.62.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM’s payout ratio is -16.56%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.