D.B. Root & Company LLC Acquires Shares of 34,600 Sirius XM Holdings Inc. (SIRI)

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.

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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.

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

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