Ethic Inc. purchased a new stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,599 shares of the company’s stock, valued at approximately $105,000.
Several other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Sirius XM by 5.8% in the 1st quarter. Royal Bank of Canada now owns 425,688 shares of the company’s stock worth $2,104,000 after purchasing an additional 23,507 shares during the period. Perigon Wealth Management LLC raised its stake in Sirius XM by 34.3% in the second quarter. Perigon Wealth Management LLC now owns 31,505 shares of the company’s stock worth $185,000 after buying an additional 8,054 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Sirius XM in the first quarter worth about $1,393,000. Teacher Retirement System of Texas boosted its position in Sirius XM by 4.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 700,788 shares of the company’s stock valued at $4,114,000 after acquiring an additional 31,424 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Sirius XM by 41.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 472,398 shares of the company’s stock worth $2,773,000 after acquiring an additional 137,983 shares during the period. Hedge funds and other institutional investors own 16.80% of the company’s stock.
Several equities research analysts recently weighed in on SIRI shares. Citigroup lifted their price target on Sirius XM from $5.90 to $6.75 and gave the company a “buy” rating in a research report on Tuesday, August 4th. BidaskClub upgraded shares of Sirius XM from a “strong sell” rating to a “sell” rating in a report on Friday, October 9th. Zacks Investment Research lowered shares of Sirius XM from a “buy” rating to a “hold” rating and set a $6.50 price target for the company. in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sirius XM from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Benchmark raised their target price on shares of Sirius XM from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.20.
Shares of NASDAQ:SIRI opened at $5.73 on Friday. Sirius XM Holdings Inc has a 52-week low of $4.11 and a 52-week high of $7.40. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.57 and a beta of 1.16. The stock’s 50-day simple moving average is $5.58 and its two-hundred day simple moving average is $5.73.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.94 billion. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. As a group, equities analysts forecast that Sirius XM Holdings Inc will post 0.24 earnings per share for the current year.
Sirius XM announced that its board has approved a share repurchase program on Tuesday, July 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 6th will be given a dividend of $0.0146 per share. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.02%. Sirius XM’s dividend payout ratio (DPR) is presently 25.00%.
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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