Cove Street Capital LLC Buys New Position in Sirius XM Holdings Inc (NASDAQ:SIRI)

Cove Street Capital LLC bought a new stake in Sirius XM Holdings Inc (NASDAQ:SIRI) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 206,424 shares of the company’s stock, valued at approximately $1,170,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC raised its holdings in shares of Sirius XM by 8.7% in the third quarter. TIAA CREF Investment Management LLC now owns 6,329,149 shares of the company’s stock valued at $40,000,000 after acquiring an additional 509,148 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Sirius XM by 2.2% in the fourth quarter. TD Asset Management Inc. now owns 288,528 shares of the company’s stock valued at $1,647,000 after acquiring an additional 6,258 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Sirius XM by 15.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 113,189 shares of the company’s stock valued at $646,000 after acquiring an additional 15,145 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Sirius XM by 17.6% in the fourth quarter. ETF Managers Group LLC now owns 21,231 shares of the company’s stock valued at $121,000 after acquiring an additional 3,179 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd raised its holdings in shares of Sirius XM by 39.6% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 98,519 shares of the company’s stock valued at $563,000 after acquiring an additional 27,926 shares in the last quarter. Hedge funds and other institutional investors own 20.64% of the company’s stock.

In other news, Director James P. Holden sold 63,067 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $5.68, for a total transaction of $358,220.56. Following the transaction, the director now owns 248,137 shares in the company, valued at $1,409,418.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Shares of Sirius XM stock opened at $5.49 on Wednesday. The stock has a market capitalization of $25.29 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.67 and a beta of 1.05. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 46.63. Sirius XM Holdings Inc has a one year low of $5.23 and a one year high of $7.70.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Sirius XM had a negative return on equity of 96.85% and a net margin of 17.08%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Sirius XM Holdings Inc will post 0.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 10th were issued a dividend of $0.0121 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.05 annualized dividend and a dividend yield of 0.88%. Sirius XM’s dividend payout ratio (DPR) is currently 19.23%.

Several analysts recently weighed in on the company. Morgan Stanley assumed coverage on Sirius XM in a report on Friday, March 15th. They issued an “equal weight” rating and a $6.50 price objective for the company. Zacks Investment Research downgraded shares of Sirius XM from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. BidaskClub upgraded shares of Sirius XM from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Barrington Research reiterated a “buy” rating and issued a $8.00 target price on shares of Sirius XM in a report on Wednesday, April 24th. Finally, Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.24.

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Sirius XM Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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