Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Acquired by Norden Group LLC

Norden Group LLC grew its position in Sirius XM Holdings Inc. (NASDAQ:SIRIFree Report) by 1,559.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 242,172 shares of the company’s stock after purchasing an additional 227,578 shares during the period. Norden Group LLC’s holdings in Sirius XM were worth $940,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Sirius XM by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,099,258 shares of the company’s stock valued at $8,145,000 after purchasing an additional 50,323 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Sirius XM in the first quarter valued at about $68,000. Gilman Hill Asset Management LLC grew its holdings in Sirius XM by 63.2% during the first quarter. Gilman Hill Asset Management LLC now owns 32,279 shares of the company’s stock worth $125,000 after acquiring an additional 12,500 shares during the period. Global Assets Advisory LLC acquired a new stake in Sirius XM during the first quarter worth about $45,000. Finally, First PREMIER Bank acquired a new stake in Sirius XM during the first quarter worth about $31,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total transaction of $32,797.16. Following the transaction, the director now owns 181,827 shares in the company, valued at $476,386.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their target price for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. StockNews.com assumed coverage on Sirius XM in a report on Tuesday, July 2nd. They set a “hold” rating on the stock. Barrington Research reaffirmed an “outperform” rating and set a $4.75 target price on shares of Sirius XM in a report on Tuesday, May 28th. Finally, Rosenblatt Securities dropped their target price on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.11.

Check Out Our Latest Research Report on SIRI

Sirius XM Price Performance

NASDAQ SIRI opened at $3.71 on Friday. The company has a market cap of $14.27 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.08. The stock’s 50 day simple moving average is $2.89 and its 200-day simple moving average is $3.94. Sirius XM Holdings Inc. has a 1-year low of $2.45 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRIGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were given a $0.0266 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 2.87%. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Sirius XM Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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