Nuveen Asset Management LLC Has $26.44 Million Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Posted by Defense World Staff on Mar 2nd, 2023

Nuveen Asset Management LLC lowered its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 12.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,629,866 shares of the company’s stock after selling 639,599 shares during the quarter. Nuveen Asset Management LLC owned about 0.12% of Sirius XM worth $26,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Sirius XM by 22.6% during the 1st quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock worth $86,779,000 after buying an additional 2,413,360 shares during the period. Victory Capital Management Inc. boosted its holdings in Sirius XM by 20.8% during the third quarter. Victory Capital Management Inc. now owns 9,901,101 shares of the company’s stock valued at $56,535,000 after acquiring an additional 1,704,197 shares during the period. Invesco Ltd. grew its position in shares of Sirius XM by 63.8% in the first quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock valued at $52,277,000 after purchasing an additional 3,074,638 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Sirius XM by 207.4% in the third quarter. New York State Common Retirement Fund now owns 7,324,902 shares of the company’s stock worth $41,825,000 after purchasing an additional 4,941,989 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Sirius XM by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,381,156 shares of the company’s stock worth $32,986,000 after purchasing an additional 46,574 shares during the last quarter. Institutional investors and hedge funds own 10.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SIRI shares. Benchmark cut their price objective on Sirius XM from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Barrington Research reissued an “outperform” rating and set a $7.00 price objective (down previously from $7.50) on shares of Sirius XM in a research report on Tuesday, February 7th. Credit Suisse Group cut their price objective on Sirius XM from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Sirius XM from $7.50 to $6.25 and set a “buy” rating for the company in a research report on Monday, February 6th. Finally, Citigroup lowered Sirius XM from a “buy” rating to a “sell” rating and lowered their price target for the company from $7.00 to $6.00 in a research note on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.77.

Sirius XM Trading Down 2.7 %

SIRI stock opened at $4.27 on Thursday. Sirius XM Holdings Inc. has a 1-year low of $4.22 and a 1-year high of $6.85. The firm has a market cap of $16.61 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.54 and a beta of 0.90. The business’s 50 day moving average is $5.39 and its 200-day moving average is $5.89.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was up .0% compared to the same quarter last year. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were paid a $0.0242 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, February 8th. Sirius XM’s dividend payout ratio is currently 33.33%.

Sirius XM Profile

(Get Rating)

Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.