CastleKnight Management LP Raises Stake in Sirius XM Holdings Inc. $SIRI

CastleKnight Management LP increased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 169.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,000 shares of the company’s stock after buying an additional 87,400 shares during the quarter. CastleKnight Management LP’s holdings in Sirius XM were worth $2,779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rossby Financial LCC raised its stake in 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 acquiring an additional 593 shares during the period. Geneos Wealth Management Inc. raised its stake in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares during the period. Jessup Wealth Management Inc bought a new stake in Sirius XM in the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd bought a new stake in Sirius XM in the 4th quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. raised its stake in Sirius XM by 31.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 2,625 shares of the company’s stock valued at $52,000 after acquiring an additional 627 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barrington Research boosted their price objective on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Guggenheim restated a “buy” rating on shares of Sirius XM in a research note on Wednesday. Citigroup restated a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Trading Up 0.3%

Shares of SIRI opened at $27.93 on Thursday. The business’s 50-day moving average price is $26.87 and its 200-day moving average price is $23.37. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $30.11. The stock has a market cap of $9.40 billion, a PE ratio of 11.78, a P/E/G ratio of 0.60 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results 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. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 3.9%. Sirius XM’s dividend payout ratio is currently 45.57%.

About Sirius XM

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.