Beech Hill Advisors Inc. Invests $715,000 in Sirius XM Holdings Inc (NASDAQ:SIRI)

Beech Hill Advisors Inc. bought a new position in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $715,000.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Sirius XM in the second quarter valued at about $29,000. Bartlett & Co. LLC purchased a new stake in shares of Sirius XM in the third quarter valued at about $31,000. CSat Investment Advisory L.P. purchased a new stake in shares of Sirius XM in the second quarter valued at about $45,000. Strategic Blueprint LLC purchased a new stake in shares of Sirius XM in the third quarter valued at about $47,000. Finally, Bouchey Financial Group Ltd purchased a new stake in shares of Sirius XM in the third quarter valued at about $67,000. 17.75% of the stock is owned by institutional investors and hedge funds.

SIRI has been the subject of several research analyst reports. Zacks Investment Research raised shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 target price for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. raised shares of Sirius XM from an “underweight” rating to an “overweight” rating in a research note on Thursday, January 2nd. Barrington Research reaffirmed a “buy” rating and set a $8.00 target price on shares of Sirius XM in a research note on Thursday, October 31st. Wells Fargo & Co initiated coverage on shares of Sirius XM in a research note on Monday, September 23rd. They set an “outperform” rating and a $8.00 target price for the company. Finally, Morgan Stanley set a $7.50 target price on shares of Sirius XM and gave the stock a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $7.61.

In other news, Director David Zaslav sold 77,747 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $6.78, for a total transaction of $527,124.66. Following the sale, the director now owns 145,246 shares of the company’s stock, valued at $984,767.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Frear sold 222,507 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $6.94, for a total transaction of $1,544,198.58. Following the sale, the chief financial officer now directly owns 1,409,229 shares in the company, valued at approximately $9,780,049.26. The disclosure for this sale can be found here. Insiders have sold 3,168,885 shares of company stock worth $21,820,069 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Shares of SIRI traded down $0.02 during mid-day trading on Friday, hitting $7.18. 137,486 shares of the company’s stock were exchanged, compared to its average volume of 18,775,674. The company has a market cap of $31.85 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 2.81 and a beta of 1.01. Sirius XM Holdings Inc has a fifty-two week low of $5.23 and a fifty-two week high of $7.21. The stock’s 50-day moving average is $7.02 and its 200-day moving average is $6.49.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. Sirius XM had a negative return on equity of 129.67% and a net margin of 12.76%. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, research analysts predict that Sirius XM Holdings Inc will post 0.2 EPS for the current fiscal year.

Sirius XM Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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

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