First Trust Direct Indexing L.P. boosted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 73.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,550 shares of the company’s stock after purchasing an additional 9,115 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Sirius XM were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in shares of Sirius XM in the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Sirius XM by 617.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,454 shares of the company’s stock worth $32,000 after buying an additional 4,694 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in shares of Sirius XM by 986.0% in the 4th quarter. Altshuler Shaham Ltd now owns 7,526 shares of the company’s stock worth $44,000 after buying an additional 6,833 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Sirius XM in the 4th quarter worth $45,000. Finally, Covestor Ltd grew its holdings in shares of Sirius XM by 133.7% during the 1st quarter. Covestor Ltd now owns 9,568 shares of the company’s stock valued at $63,000 after purchasing an additional 5,474 shares during the last quarter. Institutional investors own 10.28% of the company’s stock.
Insiders Place Their Bets
In other news, Director Robin S. Hickenlooper sold 11,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $3.81, for a total value of $41,910.00. Following the completion of the sale, the director now directly owns 94,765 shares of the company’s stock, valued at approximately $361,054.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.79% of the company’s stock.
Sirius XM Stock Up 7.1 %
Sirius XM (NASDAQ:SIRI – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Sirius XM had a net margin of 12.69% and a negative return on equity of 34.09%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on SIRI shares. Morgan Stanley reduced their target price on shares of Sirius XM from $5.40 to $4.40 and set an “underweight” rating on the stock in a report on Thursday, April 13th. Pivotal Research reduced their target price on shares of Sirius XM from $5.00 to $4.00 in a report on Thursday, April 27th. Barrington Research reduced their target price on shares of Sirius XM from $5.50 to $5.00 in a report on Wednesday, May 3rd. StockNews.com started coverage on shares of Sirius XM in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Citigroup reduced their target price on shares of Sirius XM from $4.50 to $3.60 and set a “sell” rating on the stock in a report on Friday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.06.
Sirius XM Company Profile
Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.
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