Inspire Investing LLC Acquires New Shares in Sirius XM Holdings Inc. $SIRI

Inspire Investing LLC bought a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, Holdings Channel.com reports. The fund bought 127,978 shares of the company’s stock, valued at approximately $2,559,000.

Other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its stake in Sirius XM by 4.2% in the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. Quantbot Technologies LP raised its position in shares of Sirius XM by 66.3% during the 3rd quarter. Quantbot Technologies LP now owns 133,014 shares of the company’s stock valued at $3,096,000 after buying an additional 53,019 shares in the last quarter. Brighton Jones LLC bought a new stake in Sirius XM during the fourth quarter worth about $622,000. Jupiter Asset Management Ltd. bought a new stake in Sirius XM in the 3rd quarter worth approximately $1,223,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Sirius XM by 52.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 339,511 shares of the company’s stock worth $7,902,000 after acquiring an additional 117,250 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SIRI shares. Barrington Research boosted their price target on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities reduced 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. Guggenheim reissued a “buy” rating on shares of Sirius XM in a research note on Wednesday. Citigroup restated a “sell” rating and set a $22.00 target price (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Finally, Evercore set a $28.00 target price on Sirius XM in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $27.45.

Sirius XM Trading Up 0.3%

Shares of SIRI stock opened at $27.93 on Thursday. The stock has a market capitalization of $9.40 billion, a PE ratio of 11.78, a P/E/G ratio of 0.60 and a beta of 0.96. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $30.11. The business has a 50-day moving average of $26.87 and a 200 day moving average of $23.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last issued 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 analysts’ expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.Sirius XM’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.

Sirius XM Announces Dividend

The business 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 3.9%. Sirius XM’s dividend payout ratio is currently 45.57%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.27% of the stock is owned by corporate insiders.

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.