Avenir Corp Invests $55,000 in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Avenir Corp acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently made changes to their positions in SIRI. GM Advisory Group LLC boosted its stake in Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after buying an additional 2,000 shares during the last quarter. Lindbrook Capital LLC raised its position in Sirius XM by 20.5% during the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after purchasing an additional 2,139 shares during the period. D.A. Davidson & CO. raised its position in Sirius XM by 14.8% during the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after purchasing an additional 2,183 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in Sirius XM by 0.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after purchasing an additional 2,300 shares during the period. Finally, Fi3 FINANCIAL ADVISORS LLC raised its position in Sirius XM by 9.6% during the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after purchasing an additional 2,420 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

NASDAQ SIRI traded up $0.03 during midday trading on Tuesday, hitting $2.56. 15,643,710 shares of the company traded hands, compared to its average volume of 17,446,123. The company has a market cap of $9.85 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. The company’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $4.19. Sirius XM Holdings Inc. has a 52 week low of $2.51 and a 52 week high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. On average, research analysts predict that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were given a dividend of $0.0266 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 4.16%. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SIRI shares. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Rosenblatt Securities reduced their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Guggenheim assumed coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Finally, Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $4.33.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the sale, the director now owns 181,827 shares of the company’s stock, valued at approximately $476,386.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

About Sirius XM

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.