Bridgefront Capital LLC Takes $121,000 Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Bridgefront Capital LLC acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 21,213 shares of the company’s stock, valued at approximately $121,000.

Other hedge funds also recently modified their holdings of the company. Coston McIsaac & Partners acquired a new stake in Sirius XM during the second quarter worth approximately $28,000. Harbor Investment Advisory LLC grew its stake in shares of Sirius XM by 446.0% during the third quarter. Harbor Investment Advisory LLC now owns 5,460 shares of the company’s stock worth $31,000 after buying an additional 4,460 shares during the last quarter. TimeScale Financial Inc. grew its stake in shares of Sirius XM by 510.7% during the third quarter. TimeScale Financial Inc. now owns 6,400 shares of the company’s stock worth $37,000 after buying an additional 5,352 shares during the last quarter. TD Capital Management LLC bought a new stake in shares of Sirius XM in the third quarter worth $51,000. Finally, Integrated Advisors Network LLC bought a new stake in shares of Sirius XM in the second quarter worth $63,000. Institutional investors own 10.10% of the company’s stock.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.64 on Friday. The firm has a fifty day moving average price of $4.92 and a 200 day moving average price of $5.69. Sirius XM Holdings Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $6.85. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 2.00 and a beta of 0.96.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Sirius XM had a net margin of 13.48% and a negative return on equity of 35.45%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Sirius XM’s revenue was up .0% on a year-over-year basis. As a group, research analysts predict that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Thursday, February 9th were issued a dividend of $0.0242 per share. This represents a $0.10 annualized dividend and a yield of 2.66%. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, February 8th. Sirius XM’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SIRI. StockNews.com began coverage on shares of Sirius XM in a report on Thursday. They set a “hold” rating on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $7.00 price objective (down from $7.50) on shares of Sirius XM in a research report on Tuesday, February 7th. Credit Suisse Group reduced their target price on shares of Sirius XM from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, February 3rd. Bank of America downgraded shares of Sirius XM from a “buy” rating to a “neutral” rating in a research report on Thursday, February 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Sirius XM from $7.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.77.

About Sirius XM

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Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.