Ethic Inc. acquired a new stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,599 shares of the company’s stock, valued at approximately $105,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Community Bank N.A. bought a new stake in shares of Sirius XM in the 2nd quarter valued at about $29,000. Manchester Financial Inc. lifted its position in Sirius XM by 38.8% in the third quarter. Manchester Financial Inc. now owns 9,368 shares of the company’s stock valued at $50,000 after purchasing an additional 2,618 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Sirius XM during the third quarter valued at approximately $58,000. Brave Asset Management Inc. bought a new position in shares of Sirius XM in the second quarter worth approximately $61,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Sirius XM by 1,017.5% in the second quarter. Golden State Wealth Management LLC now owns 11,175 shares of the company’s stock worth $66,000 after buying an additional 10,175 shares during the period. Hedge funds and other institutional investors own 16.80% of the company’s stock.
SIRI has been the subject of several analyst reports. Citigroup increased their price target on shares of Sirius XM from $5.90 to $6.75 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Benchmark raised their target price on Sirius XM from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Royal Bank of Canada raised Sirius XM from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $6.00 to $7.00 in a research report on Tuesday. Barrington Research reiterated a “buy” rating and issued a $7.50 price objective on shares of Sirius XM in a research report on Thursday, July 30th. Finally, BidaskClub raised Sirius XM from a “strong sell” rating to a “sell” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. 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 1 year low of $4.11 and a 1 year high of $7.40. The firm has a 50-day moving average of $5.58 and a 200 day moving average of $5.73. The stock has a market cap of $24.35 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.
Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, October 22nd. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts anticipate that Sirius XM Holdings Inc will post 0.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.0146 per share. This is a boost 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 yield of 1.02%. Sirius XM’s payout ratio is presently 25.00%.
Sirius XM announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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