Watershed Asset Management L.L.C. Takes $434,000 Position in Sirius XM Holdings Inc. $SIRI

Watershed Asset Management L.L.C. bought a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 18,824 shares of the company’s stock, valued at approximately $434,000.

Several other large investors have also added to or reduced their stakes in the business. Root Financial Partners LLC increased 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 purchasing an additional 1,195 shares in the last quarter. Rossby Financial LCC lifted its stake in Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after buying an additional 593 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Sirius XM during the 4th quarter worth approximately $40,000. Jessup Wealth Management Inc bought a new position in shares of Sirius XM during the 4th quarter worth approximately $40,000. Finally, Geneos Wealth Management Inc. grew 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 buying an additional 493 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction 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 directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the subject of several research analyst reports. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Barrington Research increased their target price 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. Evercore set a $28.00 price target on shares of Sirius XM in a report on Friday, May 1st. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sirius XM has a consensus rating of “Hold” and an average target price of $28.00.

Sirius XM Trading Down 2.0%

Shares of Sirius XM stock opened at $30.59 on Friday. The stock has a market capitalization of $10.30 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $31.42. The stock has a 50 day moving average price of $28.60 and a two-hundred day moving average price of $24.64. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current 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, 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 company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. Sirius XM’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders 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 3.5%. Sirius XM’s dividend payout ratio is presently 45.57%.

About Sirius XM

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.