NINE MASTS CAPITAL Ltd Makes New Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)

NINE MASTS CAPITAL Ltd 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 137,363 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds have also recently modified their holdings of the stock. Mather Group LLC. bought a new stake in Sirius XM in the 2nd quarter valued at $28,000. First PREMIER Bank bought a new stake in shares of Sirius XM in the first quarter worth about $31,000. Walker Asset Management LLC purchased a new stake in shares of Sirius XM in the second quarter worth about $33,000. Strategic Financial Concepts LLC bought a new position in Sirius XM during the second quarter valued at approximately $36,000. Finally, TFO Wealth Partners LLC grew its holdings in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after buying an additional 7,028 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim lowered their target price on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Citigroup downgraded shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target for the company. in a report on Thursday, July 25th. Finally, Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price objective for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.80.

Sirius XM Stock Up 3.4 %

SIRI stock opened at $28.31 on Thursday. Sirius XM Holdings Inc. has a twelve month low of $24.43 and a twelve month high of $57.80. The firm has a market cap of $108.90 billion, a price-to-earnings ratio of 85.79, a PEG ratio of 0.88 and a beta of 1.08. The business’s fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $3.64.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Research analysts expect that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 30.30%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by company insiders.

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.