D.B. Root & Company LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,600 shares of the company’s stock, valued at approximately $185,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Valmark Advisers Inc. boosted its stake in shares of Sirius XM by 102.3% during the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock worth $108,000 after purchasing an additional 10,230 shares during the last quarter. Kalos Management Inc. acquired a new stake in shares of Sirius XM during the 3rd quarter worth about $114,000. Cornerstone Financial Partners LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth about $113,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth about $115,000. Finally, MANA Advisors LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth about $129,000. 20.02% of the stock is currently owned by institutional investors.
In related news, Director Joan Lordi Amble sold 73,961 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $6.50, for a total value of $480,746.50. Following the transaction, the director now owns 101,174 shares in the company, valued at $657,631. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph A. Verbrugge sold 863,570 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the completion of the transaction, the executive vice president now owns 2,986,689 shares in the company, valued at approximately $18,218,802.90. The disclosure for this sale can be found here. Insiders sold 1,113,308 shares of company stock worth $6,822,521 in the last 90 days. 1.06% of the stock is currently owned by insiders.
Shares of SIRI traded down $0.04 during mid-day trading on Friday, hitting $6.19. The company had a trading volume of 12,997,565 shares, compared to its average volume of 14,807,973. The company has a debt-to-equity ratio of -4.42, a quick ratio of 0.16 and a current ratio of 0.17. Sirius XM Holdings Inc. has a 1-year low of $4.73 and a 1-year high of $6.62. The stock has a market capitalization of $27,984.31, a PE ratio of 30.95, a P/E/G ratio of 1.75 and a beta of 1.11.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Sirius XM had a net margin of 11.94% and a negative return on equity of 79.79%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. sell-side analysts expect that Sirius XM Holdings Inc. will post 0.24 earnings per share for the current fiscal year.
Sirius XM declared that its board has approved a stock buyback plan on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have issued reports on SIRI shares. Zacks Investment Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Wednesday, January 24th. Buckingham Research started coverage on shares of Sirius XM in a research note on Friday, January 19th. They set a “buy” rating and a $6.50 price target on the stock. Deutsche Bank raised shares of Sirius XM from a “hold” rating to a “buy” rating and raised their price target for the stock from $5.25 to $6.50 in a research note on Friday, January 19th. Goldman Sachs raised their target price on shares of Sirius XM from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, BidaskClub raised shares of Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.21.
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Sirius XM Profile
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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