Royal Fund Management LLC Invests $1.04 Million in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Royal Fund Management LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,438 shares of the company’s stock, valued at approximately $1,036,000.

Several other large investors have also recently added to or reduced their stakes in the company. Coston McIsaac & Partners increased its position in Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares during the period. TCTC Holdings LLC acquired a new position in Sirius XM during the third quarter worth $29,000. Princeton Global Asset Management LLC raised its position in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Sirius XM in the second quarter valued at $47,000. Finally, Trium Capital LLP purchased a new stake in shares of Sirius XM during the 3rd quarter worth $50,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SIRI has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com began coverage on Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. Rosenblatt Securities lifted their price objective on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Bank of America reissued an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a report on Thursday, October 24th. Finally, Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average target price of $27.58.

Sirius XM Stock Down 0.4 %

SIRI stock opened at $22.19 on Wednesday. The company has a 50 day moving average price of $24.27 and a two-hundred day moving average price of $27.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $7.53 billion, a P/E ratio of -3.50, a PEG ratio of 1.11 and a beta of 1.05. Sirius XM Holdings Inc. has a one year low of $20.47 and a one year high of $55.40.

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.