Renaissance Technologies LLC increased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 21,739.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,271,303 shares of the company’s stock after buying an additional 2,260,903 shares during the quarter. Renaissance Technologies LLC owned about 0.06% of Sirius XM worth $12,969,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Northern Trust Corp raised its position in shares of Sirius XM by 22.6% in 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. raised its position in shares of Sirius XM by 20.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,901,101 shares of the company’s stock worth $56,535,000 after buying an additional 1,704,197 shares during the period. Invesco Ltd. raised its position in shares of Sirius XM by 63.8% in the 1st quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after buying an additional 3,074,638 shares during the period. New York State Common Retirement Fund raised its position in shares of Sirius XM by 207.4% in the 3rd quarter. New York State Common Retirement Fund now owns 7,324,902 shares of the company’s stock worth $41,825,000 after buying an additional 4,941,989 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Sirius XM by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,381,156 shares of the company’s stock worth $32,986,000 after buying an additional 46,574 shares during the period. 10.10% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on SIRI shares. Citigroup lowered Sirius XM from a “buy” rating to a “sell” rating and cut their target price for the stock from $7.00 to $6.00 in a research report on Thursday, December 1st. Barrington Research reiterated an “outperform” rating and issued a $7.00 price target (down from $7.50) on shares of Sirius XM in a report on Tuesday, February 7th. Pivotal Research lowered their price target on Sirius XM from $6.75 to $5.00 and set a “hold” rating for the company in a report on Thursday, February 9th. Wells Fargo & Company lowered their price target on Sirius XM from $7.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, February 3rd. Finally, Rosenblatt Securities downgraded Sirius XM from a “buy” rating to a “neutral” rating and lowered their price target for the company from $7.40 to $4.80 in a report on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $5.77.
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Rating) last announced its earnings results 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. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.31 billion. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, equities analysts expect that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current fiscal year.
Sirius XM Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Thursday, February 9th were paid a $0.0242 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 2.28%. This is an increase from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, February 8th. Sirius XM’s dividend payout ratio (DPR) is 33.33%.
Sirius XM Company Profile
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.
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