Park Avenue Securities LLC Takes $227,000 Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Park Avenue Securities LLC bought a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,802 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Sirius XM by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after purchasing an additional 1,845 shares during the last quarter. MetLife Investment Management LLC bought a new position in Sirius XM during the 1st quarter valued at about $115,000. Rhumbline Advisers grew its holdings in Sirius XM by 0.5% during the 1st quarter. Rhumbline Advisers now owns 1,050,105 shares of the company’s stock valued at $6,952,000 after purchasing an additional 4,947 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Sirius XM by 49.7% during the 1st quarter. Allianz Asset Management GmbH now owns 47,596 shares of the company’s stock valued at $315,000 after purchasing an additional 15,809 shares during the last quarter. Finally, Prudential PLC bought a new position in Sirius XM during the 1st quarter valued at about $293,000. 10.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 44,670 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $6.46, for a total transaction of $288,568.20. Following the completion of the sale, the director now owns 93,969 shares of the company’s stock, valued at $607,039.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Sirius XM Stock Performance

NASDAQ SIRI opened at $5.79 on Wednesday. The firm’s 50 day moving average price is $6.06 and its 200-day moving average price is $6.18. Sirius XM Holdings Inc. has a 52-week low of $5.69 and a 52-week high of $6.88. The company has a market cap of $22.52 billion, a PE ratio of 19.97, a P/E/G ratio of 2.54 and a beta of 0.95.

Sirius XM (NASDAQ:SIRIGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Sirius XM had a net margin of 12.95% and a negative return on equity of 35.97%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.27 billion. On average, analysts forecast that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Friday, November 11th were given a dividend of $0.024 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, November 9th. This represents a $0.10 dividend on an annualized basis and a yield of 1.66%. Sirius XM’s dividend payout ratio is presently 34.48%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Sirius XM in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group dropped their target price on shares of Sirius XM from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, January 12th. Citigroup downgraded shares of Sirius XM from a “buy” rating to a “sell” rating and dropped their target price for the stock from $7.00 to $6.00 in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sirius XM from $8.00 to $7.50 in a research note on Wednesday, November 2nd. Finally, Morgan Stanley dropped their target price on shares of Sirius XM from $6.50 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.63.

Sirius XM Profile

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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

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