Nomura Asset Management Co. Ltd. increased its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 8.5% in the 4th quarter, Holdings Channel reports. The firm owned 326,189 shares of the company’s stock after purchasing an additional 25,441 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Sirius XM were worth $1,863,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC raised its position in shares of Sirius XM by 2.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 75,089 shares of the company’s stock worth $429,000 after purchasing an additional 2,087 shares during the last quarter. Cambridge Advisors Inc. raised its position in shares of Sirius XM by 3.7% during the 4th quarter. Cambridge Advisors Inc. now owns 58,785 shares of the company’s stock worth $336,000 after purchasing an additional 2,114 shares during the last quarter. Stephens Inc. AR raised its position in shares of Sirius XM by 13.0% during the 4th quarter. Stephens Inc. AR now owns 20,266 shares of the company’s stock worth $116,000 after purchasing an additional 2,324 shares during the last quarter. Tredje AP fonden raised its position in shares of Sirius XM by 2.4% during the 4th quarter. Tredje AP fonden now owns 117,826 shares of the company’s stock worth $673,000 after purchasing an additional 2,799 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Sirius XM by 19.7% during the 4th quarter. Wetherby Asset Management Inc. now owns 19,273 shares of the company’s stock worth $111,000 after purchasing an additional 3,171 shares during the last quarter. Hedge funds and other institutional investors own 16.91% of the company’s stock.
Sirius XM stock opened at $6.13 on Friday. Sirius XM Holdings Inc has a 1-year low of $5.48 and a 1-year high of $7.70. The company has a market capitalization of $27.54 billion, a PE ratio of 23.58, a PEG ratio of 2.49 and a beta of 1.05.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted ($0.01) EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sirius XM Holdings Inc will post 0.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Monday, February 11th were paid a $0.0121 dividend. The ex-dividend date was Friday, February 8th. This represents a $0.05 annualized dividend and a dividend yield of 0.79%. Sirius XM’s dividend payout ratio (DPR) is 19.23%.
Sirius XM declared that its board has authorized a share buyback program on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
SIRI has been the subject of a number of recent research reports. Macquarie set a $8.00 price objective on shares of Sirius XM and gave the company a “buy” rating in a report on Wednesday, January 2nd. Buckingham Research upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, January 28th. BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $6.00 to $7.00 in a report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Sirius XM from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $7.19.
In related news, EVP Stephen Cook sold 56,118 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $6.13, for a total transaction of $344,003.34. Following the completion of the transaction, the executive vice president now owns 1,445,007 shares of the company’s stock, valued at approximately $8,857,892.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas D. Barry sold 48,513 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $6.06, for a total transaction of $293,988.78. Following the transaction, the vice president now directly owns 462,465 shares of the company’s stock, valued at approximately $2,802,537.90. The disclosure for this sale can be found here. In the last three months, insiders sold 693,134 shares of company stock valued at $4,245,516. Corporate insiders own 0.76% of the company’s stock.
Sirius XM Company 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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