Aspen Grove Capital LLC Acquires New Holdings in Sirius XM Holdings Inc. $SIRI

Aspen Grove Capital LLC bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 98,648 shares of the company’s stock, valued at approximately $2,277,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC raised its stake in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after acquiring an additional 1,195 shares in the last quarter. Rossby Financial LCC boosted its stake 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 purchasing an additional 593 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Sirius XM during the 4th quarter valued at $40,000. Jessup Wealth Management Inc purchased a new position in Sirius XM in the 4th quarter worth $40,000. Finally, Geneos Wealth Management Inc. lifted its stake in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Trending Headlines about Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM is partnering with WWE to launch “WWE Radio,” replacing its Pro Wrestling Nation 24/7 channel and giving the platform a higher-profile sports-entertainment offering ahead of SummerSlam. WWE partnering with SiriusXM to launch ‘WWE Radio’
• Positive Sentiment: The company is expanding its sports and talk radio inventory by adding stations such as Audacy sports/news/talk content, WEEI, WFAN, and 92.3 The Fan, which could broaden audience reach and strengthen the value of its subscription bundle. Audacy Sports, News and Talk Stations Will Be Heard on SiriusXM
• Positive Sentiment: SiriusXM declared a quarterly cash dividend of $0.27 per share, reinforcing the company’s shareholder-return profile and offering investors a 3.6% annualized yield. SiriusXM Declares Quarterly Cash Dividend
• Positive Sentiment: Analysts are heading into next week’s earnings report with expectations for earnings growth and the possibility of a beat, which may be supporting sentiment around the stock. Sirius XM (SIRI) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Coverage noting Morgan Stanley’s bullish view on SiriusXM adds to the constructive outlook, but it is more of a sentiment signal than a confirmed business catalyst. Morgan Stanley Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock

Wall Street Analysts Forecast Growth

SIRI has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Citigroup restated a “sell” rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Evercore set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is owned by insiders.

Sirius XM Trading Up 0.1%

Shares of SIRI opened at $29.87 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $31.42. The firm’s 50-day moving average price is $28.90 and its 200-day moving average price is $24.95. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.64 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.6%. Sirius XM’s payout ratio is presently 45.57%.

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.