Centaurus Financial Inc. bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,350 shares of the company’s stock, valued at approximately $184,000.
A number of other hedge funds also recently made changes to their positions in SIRI. Macquarie Group Ltd. boosted its stake in Sirius XM by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after buying an additional 15,200 shares in the last quarter. Toronto Dominion Bank boosted its stake in Sirius XM by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after buying an additional 1,799 shares in the last quarter. Cornerstone Financial Partners LLC acquired a new stake in Sirius XM during the fourth quarter worth $113,000. Kalos Management Inc. acquired a new stake in Sirius XM during the third quarter worth $114,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Sirius XM during the fourth quarter worth $115,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.
SIRI has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Sirius XM from a “sell” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Friday, October 27th. B. Riley reiterated a “buy” rating on shares of Sirius XM in a research note on Wednesday, November 1st. BidaskClub upgraded shares of Sirius XM from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. JPMorgan Chase & Co. downgraded shares of Sirius XM from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $5.36 to $5.00 in a research note on Tuesday, January 2nd. Finally, Barrington Research downgraded shares of Sirius XM from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $6.12.
Shares of Sirius XM Holdings Inc. (SIRI) opened at $6.27 on Friday. Sirius XM Holdings Inc. has a 52 week low of $4.73 and a 52 week high of $6.30. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of -4.42. The company has a market cap of $27,620.00, a price-to-earnings ratio of 44.79, a PEG ratio of 1.72 and a beta of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th will be paid a $0.011 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.70%. Sirius XM’s dividend payout ratio is presently 28.57%.
Sirius XM declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO James E. Meyer sold 172,704 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total value of $980,958.72. Following the sale, the chief executive officer now owns 3,377,085 shares in the company, valued at approximately $19,181,842.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the sale, the executive vice president now owns 227,430 shares in the company, valued at approximately $1,296,351. The disclosure for this sale can be found here. Insiders sold a total of 2,586,530 shares of company stock worth $15,157,263 in the last 90 days. 1.06% of the stock is owned by corporate insiders.
About Sirius XM
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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