ProShare Advisors LLC Acquires 768,570 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

ProShare Advisors LLC grew its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,747,881 shares of the company’s stock after purchasing an additional 768,570 shares during the period. ProShare Advisors LLC’s holdings in Sirius XM were worth $14,542,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. GM Advisory Group LLC increased its position in shares of Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after buying an additional 2,000 shares during the period. Lindbrook Capital LLC boosted its holdings in Sirius XM by 20.5% in the 4th quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after purchasing an additional 2,139 shares during the period. D.A. Davidson & CO. grew its position in shares of Sirius XM by 14.8% during the 4th quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after purchasing an additional 2,183 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock worth $2,123,000 after purchasing an additional 2,300 shares during the period. Finally, Gitterman Wealth Management LLC boosted its stake in Sirius XM by 7.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 38,410 shares of the company’s stock valued at $210,000 after buying an additional 2,566 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Price Performance

Shares of SIRI stock opened at $3.80 on Thursday. The business has a 50-day moving average of $2.98 and a 200 day moving average of $3.84. Sirius XM Holdings Inc. has a 1-year low of $2.45 and a 1-year high of $7.95. The stock has a market capitalization of $14.62 billion, a PE ratio of 11.52, a P/E/G ratio of 1.27 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were issued a dividend of $0.0266 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 2.80%. Sirius XM’s dividend payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SIRI. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price target for the company from $4.25 to $3.25 in a report on Monday, June 24th. Guggenheim decreased their price target on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Barrington Research reaffirmed an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a report on Monday. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Finally, Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $4.11.

Insiders Place Their Bets

In related news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the sale, the director now owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.

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.