Gilman Hill Asset Management LLC Grows Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Gilman Hill Asset Management LLC boosted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 63.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 32,279 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Gilman Hill Asset Management LLC’s holdings in Sirius XM were worth $125,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Sirius XM by 1.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after acquiring an additional 9,956 shares during the period. Morningstar Investment Services LLC bought a new stake in Sirius XM during the fourth quarter valued at about $85,000. Northern Trust Corp grew its holdings in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 shares during the period. Assetmark Inc. increased its position in Sirius XM by 1,320.9% in the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after buying an additional 36,326 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of Sirius XM by 25.2% during the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SIRI. Wells Fargo & Company lowered their target price on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Benchmark dropped their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, March 27th. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Guggenheim assumed coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Finally, Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average price target of $4.21.

Sirius XM Stock Performance

SIRI stock opened at $2.66 on Wednesday. Sirius XM Holdings Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $7.95. The company’s 50 day moving average price is $2.89 and its 200 day moving average price is $4.06. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 0.88 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were issued a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 4.00%. Sirius XM’s dividend payout ratio is currently 33.33%.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the sale, the director now owns 169,309 shares in the company, valued at $440,203.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

About Sirius XM

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.