Check Capital Management Inc. CA grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,942,595 shares of the company’s stock after purchasing an additional 59,095 shares during the quarter. Sirius XM makes up approximately 2.0% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 7th largest position. Check Capital Management Inc. CA owned approximately 0.87% of Sirius XM worth $67,915,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares during the period. Rossby Financial LCC boosted its position 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 buying an additional 593 shares during the period. Geneos Wealth Management Inc. boosted its position 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 buying an additional 493 shares during the period. Jessup Wealth Management Inc bought a new position in Sirius XM in the 4th quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Sirius XM in the 4th quarter worth about $40,000. 10.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Citigroup reaffirmed a “sell” rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Rosenblatt Securities dropped their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Guggenheim restated a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lifted their target price on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.45.
Insider Buying and Selling
In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.27% of the company’s stock.
Sirius XM Trading Up 0.8%
NASDAQ SIRI opened at $30.67 on Tuesday. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $31.42. The company has a 50 day moving average price of $28.28 and a 200 day moving average price of $24.39. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The firm has a market cap of $10.32 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95.
Sirius XM (NASDAQ:SIRI – Get Free Report) last announced its 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. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. Sirius XM’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS 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 given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 11th. Sirius XM’s dividend payout ratio is currently 45.57%.
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.
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