Pallas Capital Advisors LLC Purchases Shares of 21,705 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Pallas Capital Advisors LLC purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,705 shares of the company’s stock, valued at approximately $489,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SIRI. Brighton Jones LLC bought a new stake in Sirius XM in the fourth quarter valued at $622,000. Empowered Funds LLC bought a new stake in shares of Sirius XM during the fourth quarter worth about $3,332,000. Quent Capital LLC bought a new stake in shares of Sirius XM during the fourth quarter worth about $158,000. Quadrant Private Wealth Management LLC increased its position in shares of Sirius XM by 8.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 15,406 shares of the company’s stock worth $351,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Check Capital Management Inc. CA increased its position in shares of Sirius XM by 597.7% during the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after acquiring an additional 981,517 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Down 3.0%

Sirius XM stock opened at $21.91 on Friday. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The firm has a 50 day moving average price of $21.37 and a 200-day moving average price of $22.94. The company has a market capitalization of $7.40 billion, a P/E ratio of -3.42, a P/E/G ratio of 0.79 and a beta of 0.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, equities analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.93%. The ex-dividend date was Friday, May 9th. Sirius XM’s dividend payout ratio is presently -16.56%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 2nd. Rosenblatt Securities decreased their target price on shares of Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Seaport Res Ptn raised shares of Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.65.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 1,651 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director now owns 15,471 shares in the company, valued at approximately $344,539.17. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

About Sirius XM

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.