Whitebox Advisors LLC Has $3.55 Million Stake in Sirius XM Holdings Inc. $SIRI

Whitebox Advisors LLC lowered its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,943 shares of the company’s stock after selling 17,000 shares during the period. Whitebox Advisors LLC’s holdings in Sirius XM were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Sirius XM by 262.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after buying an additional 4,560,821 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares in the last quarter. State Street Corp boosted its position in shares of Sirius XM by 0.7% in the fourth quarter. State Street Corp now owns 3,487,415 shares of the company’s stock valued at $69,731,000 after acquiring an additional 25,906 shares during the period. Check Capital Management Inc. CA grew its stake in shares of Sirius XM by 2.0% in the first quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company’s stock valued at $67,915,000 after acquiring an additional 59,095 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Sirius XM in the fourth quarter valued at about $57,124,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Sirius XM announced a new 24/7 WWE radio channel, replacing its current pro wrestling programming and expanding its sports/entertainment lineup ahead of SummerSlam. WWE partnering with SiriusXM to launch ‘WWE Radio’
• Positive Sentiment: The WWE partnership could help Sirius XM attract and retain subscribers by adding a popular, year-round fan channel and strengthening its exclusive content strategy. SiriusXM to launch 24/7 WWE Radio station
• Positive Sentiment: Analysts are noting that Sirius XM enters its upcoming earnings report with the potential for an earnings beat, which can support sentiment if management confirms improving fundamentals. Sirius XM (SIRI) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Management also announced a quarterly dividend of $0.27 per share, reinforcing Sirius XM’s appeal to income-focused investors.
• Neutral Sentiment: Additional coverage highlighted Sirius XM’s move to pick up two Pittsburgh radio stations, but the immediate stock impact is less clear than the WWE announcement. SiriusXM picking up 2 Pittsburgh radio stations
• Neutral Sentiment: Morgan Stanley also reportedly sees strong price appreciation potential for SIRI, adding to the bullish analyst backdrop. Morgan Stanley Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock

Sirius XM Price Performance

SIRI stock opened at $29.80 on Monday. The company has a market cap of $10.03 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The business has a 50-day simple moving average of $28.98 and a 200 day simple moving average of $25.01. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $31.42. 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 announced its quarterly earnings data 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 net margin of 9.86% and a return on equity of 9.19%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio is 45.57%.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the subject of several analyst reports. Barrington Research lifted their price objective 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. Guggenheim restated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Evercore set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 1st. Morgan Stanley boosted their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average price target of $28.00.

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.