Sirius XM Holdings Inc. $SIRI Stock Holdings Lifted by SummitTX Capital L.P.

SummitTX Capital L.P. lifted its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 173,235 shares of the company’s stock after buying an additional 19,275 shares during the period. SummitTX Capital L.P.’s holdings in Sirius XM were worth $3,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC lifted its holdings in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after acquiring an additional 1,195 shares during the last quarter. Rossby Financial LCC raised its position in shares of Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after purchasing an additional 593 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the period. Jessup Wealth Management Inc bought a new stake in shares of Sirius XM in the 4th quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Sirius XM during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

SIRI has been the subject of a number of recent research reports. Citigroup restated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Wells Fargo & Company set a $30.00 price objective on shares of Sirius XM and gave the stock an “equal weight” rating in a report on Monday. Evercore set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 1st. Rosenblatt Securities lowered their target price on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Morgan Stanley boosted their price target on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.09.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred 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 transaction, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.27% of the stock is owned by corporate insiders.

Sirius XM Trading Up 4.8%

Shares of Sirius XM stock opened at $31.22 on Tuesday. The business has a fifty day simple moving average of $29.08 and a 200-day simple moving average of $25.08. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $31.49. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company earned $0.59 earnings per share. Sirius XM’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. Sirius XM’s dividend payout ratio (DPR) is 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.