CX Institutional Acquires 138,601 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

CX Institutional boosted its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 288,752.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 138,649 shares of the company’s stock after acquiring an additional 138,601 shares during the quarter. CX Institutional’s holdings in Sirius XM were worth $3,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Xponance Inc. raised its position in shares of Sirius XM by 4.5% in the fourth quarter. Xponance Inc. now owns 12,341 shares of the company’s stock valued at $281,000 after purchasing an additional 527 shares during the period. PNC Financial Services Group Inc. grew its stake in Sirius XM by 4.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock valued at $339,000 after buying an additional 630 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Sirius XM by 4.3% in the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock valued at $358,000 after acquiring an additional 643 shares during the period. Proficio Capital Partners LLC lifted its position in Sirius XM by 5.9% during the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company’s stock worth $325,000 after acquiring an additional 791 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC increased its stake in shares of Sirius XM by 5.8% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 15,273 shares of the company’s stock worth $348,000 after purchasing an additional 837 shares during the period. Institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SIRI. Rosenblatt Securities reduced their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $26.65.

Sirius XM Trading Down 1.0%

SIRI opened at $22.59 on Thursday. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of -3.52, a P/E/G ratio of 0.79 and a beta of 0.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The company has a 50-day simple moving average of $21.34 and a 200 day simple moving average of $22.97.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Sirius XM’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 4.78%. Sirius XM’s dividend payout ratio is currently -16.56%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the transaction, the director now owns 15,471 shares in the company, valued at $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.32% of the company’s stock.

Sirius XM Company Profile

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.