Gabelli Funds LLC Has $2.13 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Gabelli Funds LLC grew its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 550,000 shares of the company’s stock after acquiring an additional 41,000 shares during the quarter. Gabelli Funds LLC’s holdings in Sirius XM were worth $2,134,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its stake in shares of Sirius XM by 17.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,357,876 shares of the company’s stock valued at $5,269,000 after buying an additional 200,000 shares during the period. EntryPoint Capital LLC bought a new stake in Sirius XM in the first quarter valued at approximately $131,000. Pitcairn Co. boosted its holdings in Sirius XM by 33.7% in the first quarter. Pitcairn Co. now owns 19,994 shares of the company’s stock valued at $78,000 after acquiring an additional 5,043 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Sirius XM in the first quarter valued at approximately $216,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Sirius XM by 13.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,291,511 shares of the company’s stock valued at $5,002,000 after acquiring an additional 157,874 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com assumed coverage on Sirius XM in a report on Friday. They issued a “hold” rating on the stock. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 target price on the stock. in a report on Thursday. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and cut their price target for the stock from $4.25 to $3.25 in a report on Monday, June 24th. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Finally, Rosenblatt Securities cut their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $4.07.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total value of $32,797.16. Following the sale, the director now directly owns 181,827 shares in the company, valued at approximately $476,386.74. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.79% of the company’s stock.

Sirius XM Stock Down 5.1 %

Shares of NASDAQ SIRI traded down $0.20 during trading hours on Friday, reaching $3.72. 30,704,702 shares of the stock traded hands, compared to its average volume of 48,485,832. The company has a market capitalization of $14.31 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08. Sirius XM Holdings Inc. has a 52-week low of $2.45 and a 52-week high of $5.78. The company’s 50-day simple moving average is $3.06 and its two-hundred day simple moving average is $3.75.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a yield of 2.86%. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.