Morse Asset Management Inc Raises Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)
Morse Asset Management Inc raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 18.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,500 shares of the company’s stock after buying an additional 5,000 shares during the period. Morse Asset Management Inc’s holdings in Sirius XM Holdings were worth $172,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Miracle Mile Advisors LLC boosted its stake in shares of Sirius XM Holdings by 1.5% in the first quarter. Miracle Mile Advisors LLC now owns 19,880 shares of the company’s stock worth $102,000 after buying an additional 300 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in shares of Sirius XM Holdings during the first quarter worth $105,000. Greenwich Wealth Management LLC acquired a new stake in shares of Sirius XM Holdings during the first quarter worth $108,000. Advisor Partners LLC boosted its stake in shares of Sirius XM Holdings by 103.7% in the second quarter. Advisor Partners LLC now owns 23,449 shares of the company’s stock worth $128,000 after buying an additional 11,938 shares during the last quarter. Finally, Concorde Asset Management LLC acquired a new stake in shares of Sirius XM Holdings during the first quarter worth $128,000. Hedge funds and other institutional investors own 22.30% of the company’s stock.
Sirius XM Holdings Inc. (NASDAQ SIRI) opened at 5.55 on Thursday. The company has a 50-day moving average of $5.47 and a 200-day moving average of $5.15. The firm has a market cap of $25.60 billion, a price-to-earnings ratio of 32.65 and a beta of 1.11. Sirius XM Holdings Inc. has a 1-year low of $4.05 and a 1-year high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Sirius XM Holdings Inc. will post $0.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 10th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, August 8th. Sirius XM Holdings’s payout ratio is presently 25.00%.
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A number of brokerages recently weighed in on SIRI. Vetr upgraded shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating and set a $6.31 target price for the company in a report on Monday. BidaskClub upgraded shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Sirius XM Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC set a $5.00 target price on shares of Sirius XM Holdings and gave the stock a “hold” rating in a report on Sunday, April 30th. Finally, Citigroup Inc. raised their target price on shares of Sirius XM Holdings from $5.50 to $6.65 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Sirius XM Holdings presently has a consensus rating of “Buy” and a consensus price target of $5.73.
Sirius XM Holdings Company 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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