Wedbush Securities Inc. Makes New $336,000 Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Wedbush Securities Inc. acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 14,739 shares of the company’s stock, valued at approximately $336,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Sirius XM by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,914,785 shares of the company’s stock valued at $89,284,000 after buying an additional 154,765 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in Sirius XM by 16.3% in the fourth quarter. Seizert Capital Partners LLC now owns 2,269,616 shares of the company’s stock valued at $51,747,000 after buying an additional 317,289 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in Sirius XM by 7.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 2,218,017 shares of the company’s stock valued at $50,571,000 after buying an additional 150,744 shares during the last quarter. Weitz Investment Management Inc. lifted its stake in Sirius XM by 16.1% in the fourth quarter. Weitz Investment Management Inc. now owns 1,465,500 shares of the company’s stock valued at $33,413,000 after buying an additional 203,501 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its stake in Sirius XM by 2.9% in the fourth quarter. Alberta Investment Management Corp now owns 1,272,526 shares of the company’s stock valued at $29,014,000 after buying an additional 36,300 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities cut their price objective on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley cut their price objective on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Barrington Research set a $28.00 price objective on shares of Sirius XM in a research note on Friday, January 31st. Finally, Guggenheim cut their price objective on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus target price of $26.81.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $20.90 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $23.67 and its two-hundred day moving average price is $24.27. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $41.60. The stock has a market cap of $7.08 billion, a PE ratio of -3.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.27 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a yield of 5.17%. Sirius XM’s dividend payout ratio is currently -16.85%.

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.