Empyrean Capital Partners LP Lowers Stock Position in Sirius XM Holdings Inc. $SIRI

Empyrean Capital Partners LP cut its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 692,775 shares of the company’s stock after selling 212,848 shares during the period. Empyrean Capital Partners LP’s holdings in Sirius XM were worth $13,852,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rossby Financial LCC grew its position in shares of Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the last quarter. Jessup Wealth Management Inc purchased a new position in shares of Sirius XM during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sirius XM during the fourth quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. grew its position in shares of Sirius XM by 31.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,625 shares of the company’s stock worth $52,000 after acquiring an additional 627 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SIRI has been the topic of a number of research reports. Evercore set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 1st. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday. Weiss Ratings upgraded shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Barrington Research lifted their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.45.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $27.93 on Thursday. The firm has a market capitalization of $9.40 billion, a P/E ratio of 11.78, a PEG ratio of 0.60 and a beta of 0.96. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $30.11. The company’s fifty day moving average is $26.87 and its two-hundred day moving average is $23.37. 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 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Analysts forecast 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 was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 11th. Sirius XM’s payout ratio is 45.57%.

Sirius XM Company Profile

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.