Panagora Asset Management Inc. grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 91.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 845,416 shares of the company’s stock after buying an additional 403,135 shares during the period. Panagora Asset Management Inc.’s holdings in Sirius XM were worth $4,937,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Ossiam boosted its stake in shares of Sirius XM by 79.2% during the fourth quarter. Ossiam now owns 238,717 shares of the company’s stock valued at $1,394,000 after acquiring an additional 105,505 shares during the last quarter. Advisors Capital Management LLC boosted its stake in shares of Sirius XM by 9,408.7% during the 4th quarter. Advisors Capital Management LLC now owns 1,962,127 shares of the company’s stock worth $11,459,000 after purchasing an additional 1,941,492 shares during the last quarter. Barclays PLC boosted its stake in shares of Sirius XM by 92.4% during the 4th quarter. Barclays PLC now owns 2,170,996 shares of the company’s stock worth $12,680,000 after purchasing an additional 1,042,760 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Sirius XM by 31.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 169,489 shares of the company’s stock worth $990,000 after buying an additional 40,368 shares in the last quarter. Finally, Seven Eight Capital LP raised its position in shares of Sirius XM by 43.3% in the fourth quarter. Seven Eight Capital LP now owns 31,802 shares of the company’s stock valued at $186,000 after buying an additional 9,603 shares during the last quarter. 10.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on SIRI. Citigroup lowered their target price on shares of Sirius XM from $4.50 to $3.60 and set a “sell” rating for the company in a research note on Friday, March 31st. StockNews.com began coverage on Sirius XM in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Benchmark reiterated a “buy” rating and set a $7.00 target price on shares of Sirius XM in a research report on Thursday, March 9th. Rosenblatt Securities cut 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. Finally, Morgan Stanley cut their price objective on shares of Sirius XM from $5.40 to $4.40 and set an “underweight” rating on the stock in a report on Thursday, April 13th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.06.
Sirius XM Stock Down 1.8 %
Sirius XM (NASDAQ:SIRI – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Sirius XM had a negative return on equity of 34.09% and a net margin of 12.69%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Research analysts anticipate that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current year.
Sirius XM Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Friday, May 5th were given a dividend of $0.0242 per share. This represents a $0.10 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, May 4th. Sirius XM’s dividend payout ratio (DPR) is presently 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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