Crescent Grove Advisors LLC Invests $706,000 in Sirius XM Holdings Inc. $SIRI

Crescent Grove Advisors LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,606 shares of the company’s stock, valued at approximately $706,000.

Several other institutional investors have also modified their holdings of SIRI. AQR Capital Management LLC grew its position in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after purchasing an additional 3,233,922 shares during the period. Norges Bank acquired a new stake in Sirius XM during the 4th quarter worth approximately $57,124,000. Hsbc Holdings PLC raised its holdings in Sirius XM by 858.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock worth $41,726,000 after buying an additional 1,859,872 shares during the period. Pacer Advisors Inc. bought a new position in Sirius XM in the fourth quarter valued at approximately $34,548,000. Finally, Bank of New York Mellon Corp lifted its stake in Sirius XM by 253.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,019,901 shares of the company’s stock valued at $40,388,000 after buying an additional 1,449,036 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Performance

NASDAQ SIRI opened at $30.59 on Monday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.66 and a beta of 0.95. The stock’s 50 day moving average price is $28.60 and its two-hundred day moving average price is $24.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $31.42.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.5%. Sirius XM’s dividend payout ratio is presently 45.57%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SIRI. Rosenblatt Securities reduced their price target on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Citigroup restated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Barrington Research boosted their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Guggenheim reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Sirius XM 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.