Cherry Creek Investment Advisors Inc. Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cherry Creek Investment Advisors Inc. acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,575 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of Sirius XM by 154.9% during the first quarter. Sei Investments Co. now owns 207,644 shares of the company’s stock valued at $1,287,000 after acquiring an additional 126,175 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in shares of Sirius XM by 557.1% during the second quarter. Liberty Wealth Management LLC now owns 49,100 shares of the company’s stock valued at $7,508,000 after acquiring an additional 41,628 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Sirius XM by 8.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 690,875 shares of the company’s stock valued at $4,500,000 after acquiring an additional 55,173 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Sirius XM by 6.9% during the first quarter. Nordea Investment Management AB now owns 10,938,194 shares of the company’s stock valued at $67,434,000 after acquiring an additional 709,398 shares in the last quarter. Finally, Alpha Paradigm Partners LLC increased its holdings in shares of Sirius XM by 11.7% during the second quarter. Alpha Paradigm Partners LLC now owns 106,964 shares of the company’s stock valued at $700,000 after acquiring an additional 11,167 shares in the last quarter. Hedge funds and other institutional investors own 13.46% of the company’s stock.

Shares of NASDAQ:SIRI traded up $0.07 during midday trading on Thursday, reaching $6.07. 129,722 shares of the company’s stock traded hands, compared to its average volume of 21,997,732. Sirius XM Holdings Inc. has a 1 year low of $5.66 and a 1 year high of $8.14. The company has a market cap of $24.59 billion, a P/E ratio of 120.00, a PEG ratio of 1.66 and a beta of 1.06. The company has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $6.27.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, July 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Sirius XM had a negative return on equity of 62.88% and a net margin of 2.93%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 30th. Stockholders of record on Friday, August 6th were given a dividend of $0.0146 per share. The ex-dividend date was Thursday, August 5th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.96%. Sirius XM’s dividend payout ratio (DPR) is 24.00%.

Sirius XM declared that its Board of Directors has authorized a share repurchase plan on Monday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

SIRI has been the topic of several research reports. Pivotal Research increased their price target on shares of Sirius XM from $7.75 to $8.25 and gave the stock a “buy” rating in a report on Thursday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Sirius XM from $7.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Morgan Stanley increased their price target on shares of Sirius XM from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Barclays upgraded Sirius XM from an “underweight” rating to an “equal weight” rating and set a $6.00 price objective on the stock in a research report on Tuesday, September 28th. Finally, Barrington Research restated a “buy” rating and issued a $8.00 price objective on shares of Sirius XM in a research report on Thursday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.35.

In other news, insider Scott Andrew Greenstein sold 214,948 shares of the stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $6.62, for a total transaction of $1,422,955.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.93% of the company’s stock.

About Sirius XM

Sirius XM Holdings, Inc is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, and SiriusXM Marine.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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