Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Bought by abrdn plc

abrdn plc raised its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 100.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,911 shares of the company’s stock after acquiring an additional 111,991 shares during the quarter. abrdn plc’s holdings in Sirius XM were worth $1,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SIRI. AE Wealth Management LLC raised its stake in Sirius XM by 9.2% in the 3rd quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after purchasing an additional 7,837 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Sirius XM in the third quarter valued at about $282,000. Handelsbanken Fonder AB lifted its stake in shares of Sirius XM by 16.0% in the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after buying an additional 19,832 shares in the last quarter. Clarius Group LLC acquired a new position in Sirius XM during the third quarter worth about $52,000. Finally, Balboa Wealth Partners purchased a new stake in Sirius XM during the 3rd quarter valued at about $300,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SIRI shares. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. StockNews.com started coverage on Sirius XM in a research note on Monday. They issued a “hold” rating for the company. Wells Fargo & Company lowered their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Finally, Benchmark cut their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus price target of $4.67.

Insider Buying and Selling

In other news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Sirius XM Price Performance

Shares of SIRI stock opened at $3.17 on Tuesday. The company has a 50-day moving average of $3.82 and a two-hundred day moving average of $4.59. The firm has a market cap of $12.19 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.04. Sirius XM Holdings Inc. has a 1-year low of $2.97 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.36%. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Sirius XM 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.