Norges Bank Acquires Shares of 2,856,916 Sirius XM Holdings Inc. $SIRI

Norges Bank bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,856,916 shares of the company’s stock, valued at approximately $57,124,000.

Other large investors have also recently modified their holdings of the company. Berkshire Hathaway Inc increased its position in shares of Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after buying an additional 5,030,425 shares during the period. AQR Capital Management LLC lifted its holdings in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares during the period. Two Sigma Investments LP boosted its position in Sirius XM by 270.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company’s stock valued at $45,003,000 after acquiring an additional 1,410,963 shares in the last quarter. Check Capital Management Inc. CA boosted its position in Sirius XM by 76.7% during the 3rd quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company’s stock valued at $47,989,000 after acquiring an additional 895,247 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $19,708,000. Institutional investors own 10.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.27% of the stock is currently owned by insiders.

Sirius XM Price Performance

SIRI opened at $27.01 on Monday. The firm has a market cap of $9.09 billion, a PE ratio of 11.40, a P/E/G ratio of 0.58 and a beta of 0.96. The stock has a 50-day moving average price of $26.17 and a 200-day moving average price of $22.98. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $30.11. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. Sirius XM’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. Sell-side analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 4.0%. Sirius XM’s dividend payout ratio (DPR) is 45.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SIRI shares. UBS Group set a $24.00 target price on Sirius XM in a research report on Tuesday, February 10th. Weiss Ratings raised Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. Barrington Research boosted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Rosenblatt Securities reduced their target price on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.