AlphaQuest LLC Sells 26,370 Shares of Sirius XM Holdings Inc. $SIRI

AlphaQuest LLC decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 33.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,540 shares of the company’s stock after selling 26,370 shares during the quarter. AlphaQuest LLC’s holdings in Sirius XM were worth $1,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SIRI. Brighton Jones LLC bought a new position in shares of Sirius XM during the 4th quarter valued at about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after buying an additional 92,111 shares in the last quarter. Focus Partners Wealth boosted its stake in Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in Sirius XM in the 2nd quarter worth approximately $208,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM News Roundup

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

• Positive Sentiment: SiriusXM declared a quarterly cash dividend of $0.27 per share (annualized yield ~5.3%), payable Feb. 27 to holders of record Feb. 11; ex-dividend Feb. 11. This supports income investors and signals board confidence in cash flow. Read More.
• Positive Sentiment: The company appointed Eve Konstan (former Spotify general counsel) as EVP, Chief Legal Officer effective Feb. 9. Adding a senior media/tech legal executive may strengthen regulatory, content and M&A execution. Read More.
• Positive Sentiment: SiriusXM/FOX Sports Radio will have a strong presence around Super Bowl LX in San Francisco — a high-profile programming and ad-revenue opportunity that can boost listener engagement and short-term advertising/partnership revenue. Read More.
• Neutral Sentiment: Moffett Nathanson initiated research coverage of Sirius XM. New analyst coverage can increase visibility and trading liquidity; the near-term price impact depends on the published rating and estimates. Read More.
• Neutral Sentiment: SiriusXM was mentioned in a list of “cheap, safe” stocks (The Motley Fool piece). Positive press can attract value-oriented investors, but inclusion alone doesn’t change fundamentals. Read More.
• Negative Sentiment: The company agreed to a $28 million settlement in a telemarketing class-action matter; claims filing details and eligibility are being publicized. The cash outflow is modest relative to market cap but introduces near-term legal/administrative costs and headline risk. Read More. Read More. Read More.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SIRI shares. Moffett Nathanson assumed coverage on shares of Sirius XM in a report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Sirius XM in a research note on Monday, December 29th. Rosenblatt Securities restated a “neutral” rating and set a $23.00 target price on shares of Sirius XM in a research report on Monday, December 1st. Barrington Research reiterated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.88.

Sirius XM Stock Performance

SIRI stock opened at $20.35 on Monday. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $27.41. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.27 and a beta of 0.93. The business’s fifty day simple moving average is $20.94 and its two-hundred day simple moving average is $21.92. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.78.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned ($8.74) earnings per share. Analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.3%. Sirius XM’s dividend payout ratio (DPR) is 38.16%.

Sirius XM Company 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.