Norges Bank Makes New $76.68 Million Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)


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Norges Bank purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,037,794 shares of the company’s stock, valued at approximately $76,681,000.

A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its position in Sirius XM by 3.0% during the 4th quarter. CWM LLC now owns 57,577 shares of the company’s stock worth $367,000 after acquiring an additional 1,662 shares during the last quarter. LPL Financial LLC boosted its position in Sirius XM by 0.8% during the 4th quarter. LPL Financial LLC now owns 250,152 shares of the company’s stock worth $1,593,000 after acquiring an additional 1,961 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Sirius XM by 0.4% during the 4th quarter. IFP Advisors Inc now owns 510,369 shares of the company’s stock worth $3,251,000 after purchasing an additional 2,002 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Sirius XM by 29.6% during the 4th quarter. First Horizon Advisors Inc. now owns 9,044 shares of the company’s stock worth $57,000 after purchasing an additional 2,068 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Sirius XM by 86.9% during the 4th quarter. Allworth Financial LP now owns 4,717 shares of the company’s stock worth $30,000 after purchasing an additional 2,193 shares in the last quarter. 15.73% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on SIRI. Credit Suisse Group cut Sirius XM from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $7.50 to $7.25 in a research note on Wednesday, January 27th. Morgan Stanley upped their price objective on Sirius XM from $6.75 to $7.50 and gave the stock an “overweight” rating in a research note on Thursday, December 17th. Finally, Zacks Investment Research upgraded Sirius XM from a “sell” rating to a “hold” rating and set a $5.75 price target on the stock in a research note on Thursday, January 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $7.23.

In other news, Director James P. Holden sold 28,919 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $6.39, for a total transaction of $184,792.41. Following the sale, the director now directly owns 303,070 shares of the company’s stock, valued at approximately $1,936,617.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Shares of NASDAQ SIRI opened at $6.23 on Tuesday. The stock’s fifty day moving average price is $6.11 and its two-hundred day moving average price is $6.09. Sirius XM Holdings Inc. has a one year low of $4.95 and a one year high of $8.14. The firm has a market cap of $25.79 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 1.47 and a beta of 1.13.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Monday, February 1st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Sirius XM had a negative return on equity of 137.30% and a net margin of 13.28%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts expect that Sirius XM Holdings Inc. will post 0.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Wednesday, February 10th were issued a $0.0146 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Tuesday, February 9th. Sirius XM’s dividend payout ratio is 30.00%.

Sirius XM Profile

Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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

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