Farther Finance Advisors LLC Grows Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Farther Finance Advisors LLC grew its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 395.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,075 shares of the company’s stock after purchasing an additional 11,233 shares during the period. Farther Finance Advisors LLC’s holdings in Sirius XM were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Xponance Inc. increased its stake in shares of Sirius XM by 4.5% in the fourth quarter. Xponance Inc. now owns 12,341 shares of the company’s stock worth $281,000 after buying an additional 527 shares during the period. PNC Financial Services Group Inc. grew its holdings in Sirius XM by 4.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock worth $339,000 after purchasing an additional 630 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Sirius XM by 4.3% during the fourth quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock valued at $358,000 after acquiring an additional 643 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Sirius XM by 5.9% during the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company’s stock valued at $325,000 after buying an additional 791 shares during the last quarter. Finally, Northeast Financial Consultants Inc boosted its position in shares of Sirius XM by 5.8% during the fourth quarter. Northeast Financial Consultants Inc now owns 16,035 shares of the company’s stock valued at $366,000 after buying an additional 885 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Sirius XM stock opened at $21.45 on Wednesday. The firm has a 50-day moving average price of $21.48 and a 200-day moving average price of $22.81. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month 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 firm has a market capitalization of $7.25 billion, a PE ratio of -3.29, a price-to-earnings-growth ratio of 0.31 and a beta of 0.91.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $0.07 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.03%. Sirius XM’s dividend payout ratio is currently -16.56%.

Wall Street Analyst Weigh In

SIRI has been the topic of several research reports. Barrington Research restated an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a report on Friday, May 2nd. Rosenblatt Securities reduced their target price on shares of Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Seaport Res Ptn raised Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.65.

Insider Activity at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the sale, the director now directly owns 15,471 shares of the company’s stock, valued at $344,539.17. This trade represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

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.