Hardy Reed LLC Acquires New Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Hardy Reed LLC bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 4th quarter, HoldingsChannel.com reports. The fund bought 15,590 shares of the company’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue increased its holdings in shares of Sirius XM by 21.2% in the fourth quarter. State of Alaska Department of Revenue now owns 234,242 shares of the company’s stock worth $5,340,000 after buying an additional 41,000 shares during the period. Check Capital Management Inc. CA increased its stake in Sirius XM by 597.7% in the 4th quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after purchasing an additional 981,517 shares during the period. Franklin Resources Inc. lifted its position in Sirius XM by 209.1% in the third quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock valued at $2,062,000 after purchasing an additional 58,993 shares during the last quarter. Legato Capital Management LLC boosted its stake in shares of Sirius XM by 21.9% during the fourth quarter. Legato Capital Management LLC now owns 85,500 shares of the company’s stock valued at $1,949,000 after purchasing an additional 15,342 shares during the period. Finally, MBA Advisors LLC bought a new position in shares of Sirius XM in the fourth quarter worth approximately $228,000. 10.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SIRI. The Goldman Sachs Group lowered their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Bank of America reiterated an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a report on Thursday, October 24th. Rosenblatt Securities reduced their price target on Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $26.96.

Sirius XM Trading Down 5.0 %

Shares of NASDAQ SIRI opened at $25.20 on Thursday. Sirius XM Holdings Inc. has a 1 year low of $20.47 and a 1 year high of $48.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50-day moving average of $23.32 and a 200 day moving average of $25.86. The stock has a market cap of $8.54 billion, a P/E ratio of -3.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.06.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 4.29%. Sirius XM’s payout ratio is presently -16.85%.

Sirius XM 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.