12,343 Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI) Purchased by Fisher Asset Management LLC

Posted by on Jul 28th, 2023

Fisher Asset Management LLC purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,343 shares of the company’s stock, valued at approximately $49,000.

A number of other large investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in 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 purchasing an additional 2,413,360 shares during the period. Victory Capital Management Inc. raised its holdings in Sirius XM by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,457,380 shares of the company’s stock worth $61,071,000 after purchasing an additional 556,279 shares during the period. Invesco Ltd. raised its holdings in 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 purchasing an additional 3,074,638 shares during the period. Norges Bank acquired a new position in Sirius XM in the 4th quarter worth about $31,127,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Sirius XM by 38.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,763,561 shares of the company’s stock valued at $31,535,000 after acquiring an additional 1,310,891 shares during the last quarter. Institutional investors and hedge funds own 10.28% of the company’s stock.

Insider Buying and Selling

In other news, Director Robin S. Hickenlooper sold 11,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,910.00. Following the completion of the transaction, the director now directly owns 94,765 shares in the company, valued at $361,054.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SIRI shares. Deutsche Bank Aktiengesellschaft cut Sirius XM from a “buy” rating to a “sell” rating and set a $6.25 target price for the company. in a report on Friday, July 21st. Citigroup reduced their target price on Sirius XM from $4.50 to $3.60 and set a “sell” rating for the company in a report on Friday, March 31st. Pivotal Research cut Sirius XM from a “hold” rating to a “sell” rating and increased their target price for the company from $4.00 to $4.50 in a report on Friday, July 21st. Seaport Res Ptn cut Sirius XM from a “neutral” rating to a “sell” rating in a report on Friday, July 21st. Finally, StockNews.com began coverage on Sirius XM in a report on Thursday, May 18th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.98.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $4.81 on Friday. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.40 and a beta of 1.01. Sirius XM Holdings Inc. has a fifty-two week low of $3.32 and a fifty-two week high of $7.95. The stock has a 50 day moving average of $4.30 and a 200 day moving average of $4.36.

Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. Analysts forecast that Sirius XM Holdings Inc. will post 0.3 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th will be given a $0.0242 dividend. This represents a $0.10 annualized dividend and a yield of 2.01%. Sirius XM’s payout ratio is 35.71%.

About Sirius XM

(Free Report)

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio system and streamed via applications for mobile and home devices, and other consumer electronic equipment.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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