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

Watershed Asset Management L.L.C. purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,824 shares of the company’s stock, valued at approximately $434,000.

Several other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Krilogy Financial LLC raised its position in Sirius XM by 1.1% in the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock valued at $1,097,000 after purchasing an additional 577 shares during the last quarter. Rossby Financial LCC boosted its stake 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 valued at $32,000 after purchasing an additional 593 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Sirius XM by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after purchasing an additional 594 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Sirius XM by 2.0% during the fourth quarter. Corient Private Wealth LLC now owns 31,263 shares of the company’s stock worth $625,000 after purchasing an additional 615 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SIRI. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Barrington Research boosted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price target on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Sirius XM Price Performance

Shares of SIRI opened at $30.59 on Friday. The business has a 50-day moving average of $28.60 and a 200-day moving average of $24.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $10.30 billion, a price-to-earnings 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 1 year low of $19.76 and a 1 year high of $31.42.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current 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 given a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.5%. Sirius XM’s payout ratio is 45.57%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’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 sale, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Sirius XM 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.