BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,453 shares of the company’s stock after selling 7,940 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sirius XM were worth $406,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Sirius XM during the 4th quarter worth $29,000. Accurate Wealth Management LLC acquired a new position in Sirius XM in the 4th quarter valued at $30,000. Harvest Fund Management Co. Ltd grew its stake in Sirius XM by 617.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,454 shares of the company’s stock valued at $32,000 after buying an additional 4,694 shares during the last quarter. TD Capital Management LLC acquired a new position in Sirius XM in the 3rd quarter valued at $51,000. Finally, Covestor Ltd grew its stake in Sirius XM by 133.7% in the 1st quarter. Covestor Ltd now owns 9,568 shares of the company’s stock valued at $63,000 after buying an additional 5,474 shares during the last quarter. Institutional investors and hedge funds own 10.10% of the company’s stock.
Analyst Ratings Changes
SIRI has been the topic of a number of research analyst reports. Pivotal Research lowered their target price on shares of Sirius XM from $5.00 to $4.00 in a research note on Thursday, April 27th. Morgan Stanley reduced their price target on shares of Sirius XM from $5.40 to $4.40 and set an “underweight” rating for the company in a report on Thursday, April 13th. Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Sirius XM in a report on Thursday, March 9th. Barrington Research reduced their price target on shares of Sirius XM from $5.50 to $5.00 in a report on Wednesday, May 3rd. Finally, Citigroup reduced their price target on shares of Sirius XM from $4.50 to $3.60 and set a “sell” rating for the company in a report on Friday, March 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.06.
Sirius XM Stock Performance
Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Sirius XM had a net margin of 12.69% and a negative return on equity of 34.09%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.3 EPS for the current year.
Sirius XM Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Friday, May 5th were issued a dividend of $0.0242 per share. This represents a $0.10 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 4th. Sirius XM’s dividend payout ratio is currently 32.14%.
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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