Drive Wealth Management LLC Has $105,000 Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Drive Wealth Management LLC lifted its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIFree Report) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,210 shares of the company’s stock after buying an additional 3,739 shares during the period. Drive Wealth Management LLC’s holdings in Sirius XM were worth $105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Sirius XM by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after buying an additional 1,845 shares during the period. Kestra Advisory Services LLC raised its holdings in Sirius XM by 4.7% during the second quarter. Kestra Advisory Services LLC now owns 49,363 shares of the company’s stock worth $224,000 after acquiring an additional 2,238 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC raised its holdings in Sirius XM by 9.6% during the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock worth $124,000 after acquiring an additional 2,420 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Sirius XM by 12.5% during the third quarter. Integrated Wealth Concepts LLC now owns 23,313 shares of the company’s stock worth $105,000 after acquiring an additional 2,583 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in Sirius XM by 2.4% during the third quarter. Bank of Nova Scotia now owns 122,871 shares of the company’s stock worth $555,000 after acquiring an additional 2,826 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SIRI. Benchmark dropped their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Citigroup upped their price objective on Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a research note on Friday, January 12th. Guggenheim began coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, StockNews.com began coverage on Sirius XM in a research note on Thursday, March 28th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.70.

View Our Latest Analysis on Sirius XM

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $3.69 on Wednesday. The company has a market capitalization of $14.18 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.32 and a beta of 1.04. Sirius XM Holdings Inc. has a 1 year low of $3.32 and a 1 year high of $7.95. The business’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.73.

Sirius XM (NASDAQ:SIRIGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. On average, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, February 8th. Sirius XM’s dividend payout ratio is currently 34.38%.

About Sirius XM

(Free Report)

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.

See Also

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

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