Old West Investment Management LLC Takes Position in Sirius XM Holdings Inc. $SIRI

Old West Investment Management LLC bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 556,966 shares of the company’s stock, valued at approximately $22,000,000. Sirius XM comprises approximately 2.3% of Old West Investment Management LLC’s portfolio, making the stock its 8th largest position.

Several other large investors have also recently bought and sold shares of SIRI. Sunbelt Securities Inc. grew its stake in Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its stake in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after acquiring an additional 1,195 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Sirius XM in the 2nd quarter valued at about $32,000. Rossby Financial LCC grew its position in shares of Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of Sirius XM during the 1st quarter worth about $33,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $28.46 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66. The company has a 50-day simple moving average of $29.47 and a two-hundred day simple moving average of $25.98.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is 43.20%.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SIRI. Barrington Research upped their target price on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price objective on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. UBS Group set a $30.00 price objective on Sirius XM in a research report on Wednesday, July 29th. Benchmark reiterated a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of Sirius XM in a report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.92.

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.