AlphaQuest LLC Sells 26,370 Shares of Sirius XM Holdings Inc. $SIRI

AlphaQuest LLC trimmed its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 33.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 52,540 shares of the company’s stock after selling 26,370 shares during the quarter. AlphaQuest LLC’s holdings in Sirius XM were worth $1,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SIRI. AQR Capital Management LLC grew its stake in shares of Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after acquiring an additional 3,233,922 shares during the period. Norges Bank purchased a new stake in Sirius XM in the second quarter worth approximately $43,152,000. Man Group plc bought a new stake in Sirius XM in the 2nd quarter worth approximately $19,708,000. Alberta Investment Management Corp raised its stake in Sirius XM by 20.2% during the 2nd quarter. Alberta Investment Management Corp now owns 1,486,226 shares of the company’s stock valued at $34,139,000 after buying an additional 250,000 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Sirius XM by 233.9% during the 2nd quarter. Ieq Capital LLC now owns 331,741 shares of the company’s stock valued at $7,620,000 after buying an additional 232,374 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $20.35 on Monday. The firm’s 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $21.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $6.85 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.27 and a beta of 0.93. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $27.41.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.79 by $0.05. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned ($8.74) EPS. Research analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.3%. Sirius XM’s dividend payout ratio is 38.16%.

Wall Street Analyst Weigh In

Several analysts recently commented on SIRI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sirius XM in a report on Monday, December 29th. Moffett Nathanson assumed coverage on Sirius XM in a research note on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. Rosenblatt Securities reissued a “neutral” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Monday, December 1st. Finally, Barrington Research restated an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $23.88.

Sirius XM News Roundup

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM declared a quarterly cash dividend of $0.27 per share (annualized yield ~5.3%), payable Feb. 27 to holders of record Feb. 11; ex-dividend Feb. 11. This supports income investors and signals board confidence in cash flow. Read More.
• Positive Sentiment: The company appointed Eve Konstan (former Spotify general counsel) as EVP, Chief Legal Officer effective Feb. 9. Adding a senior media/tech legal executive may strengthen regulatory, content and M&A execution. Read More.
• Positive Sentiment: SiriusXM/FOX Sports Radio will have a strong presence around Super Bowl LX in San Francisco — a high-profile programming and ad-revenue opportunity that can boost listener engagement and short-term advertising/partnership revenue. Read More.
• Neutral Sentiment: Moffett Nathanson initiated research coverage of Sirius XM. New analyst coverage can increase visibility and trading liquidity; the near-term price impact depends on the published rating and estimates. Read More.
• Neutral Sentiment: SiriusXM was mentioned in a list of “cheap, safe” stocks (The Motley Fool piece). Positive press can attract value-oriented investors, but inclusion alone doesn’t change fundamentals. Read More.
• Negative Sentiment: The company agreed to a $28 million settlement in a telemarketing class-action matter; claims filing details and eligibility are being publicized. The cash outflow is modest relative to market cap but introduces near-term legal/administrative costs and headline risk. Read More. Read More. Read More.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.