Successful Portfolios LLC purchased a new stake in Sirius XM Holdings Inc (NASDAQ:SIRI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,420 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northstar Group Inc. raised its stake in Sirius XM by 4.4% in the 1st quarter. Northstar Group Inc. now owns 44,900 shares of the company’s stock valued at $255,000 after acquiring an additional 1,900 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Sirius XM by 2.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 75,089 shares of the company’s stock valued at $429,000 after buying an additional 2,087 shares in the last quarter. Cambridge Advisors Inc. grew its holdings in Sirius XM by 3.7% in the 4th quarter. Cambridge Advisors Inc. now owns 58,785 shares of the company’s stock valued at $336,000 after buying an additional 2,114 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in Sirius XM by 9.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 26,908 shares of the company’s stock valued at $152,000 after buying an additional 2,252 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Sirius XM by 13.0% during the 4th quarter. Stephens Inc. AR now owns 20,266 shares of the company’s stock worth $116,000 after purchasing an additional 2,324 shares in the last quarter. Institutional investors and hedge funds own 17.12% of the company’s stock.

In other Sirius XM news, EVP Stephen Cook sold 56,118 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $6.13, for a total value of $344,003.34. Following the completion of the transaction, the executive vice president now directly owns 1,445,007 shares in the company, valued at $8,857,892.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas D. Barry sold 48,513 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $6.06, for a total value of $293,988.78. Following the completion of the transaction, the vice president now owns 462,465 shares of the company’s stock, valued at $2,802,537.90. The disclosure for this sale can be found here. Insiders sold 693,134 shares of company stock valued at $4,245,516 over the last quarter. Corporate insiders own 0.76% of the company’s stock.

Sirius XM stock traded up $0.08 during trading hours on Monday, hitting $6.12. The stock had a trading volume of 26,422,980 shares, compared to its average volume of 28,234,820. The company has a market capitalization of $27.13 billion, a PE ratio of 23.54, a P/E/G ratio of 2.44 and a beta of 1.04. Sirius XM Holdings Inc has a one year low of $5.48 and a one year high of $7.70.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, January 30th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Sirius XM had a negative return on equity of 76.76% and a net margin of 20.38%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. On average, equities research analysts forecast that Sirius XM Holdings Inc will post 0.22 EPS for the current year.

Sirius XM declared that its Board of Directors has initiated a share buyback program on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

SIRI has been the topic of several analyst reports. Macquarie set a $8.00 target price on Sirius XM and gave the stock a “buy” rating in a report on Wednesday, January 2nd. B. Riley restated a “buy” rating on shares of Sirius XM in a research report on Tuesday, January 29th. Buckingham Research upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, January 28th. Morgan Stanley started coverage on Sirius XM in a research report on Friday, March 15th. They set an “equal weight” rating and a $6.50 price objective for the company. Finally, Pivotal Research restated a “hold” rating and set a $7.00 price objective on shares of Sirius XM in a research report on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.26.

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Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

Further Reading: Gross Domestic Product (GDP)

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

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