DnB Asset Management AS Reduces Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Posted by Defense World Staff on Sep 20th, 2023

DnB Asset Management AS cut its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 169,475 shares of the company’s stock after selling 6,975 shares during the period. DnB Asset Management AS’s holdings in Sirius XM were worth $768,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its stake in shares of Sirius XM by 986.0% during the 4th quarter. Altshuler Shaham Ltd now owns 7,526 shares of the company’s stock worth $44,000 after purchasing an additional 6,833 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in Sirius XM in the 4th quarter valued at about $45,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Sirius XM by 615.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,102 shares of the company’s stock valued at $32,000 after buying an additional 6,969 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Sirius XM in the 1st quarter valued at about $33,000. Finally, Covestor Ltd boosted its position 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 period. 10.50% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Up 2.0 %

NASDAQ SIRI opened at $4.18 on Wednesday. The firm has a market cap of $16.06 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04. The company has a 50 day moving average price of $4.73 and a 200 day moving average price of $4.15. Sirius XM Holdings Inc. has a 52 week low of $3.32 and a 52 week high of $7.95.

Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. Sirius XM had a net margin of 12.90% and a negative return on equity of 35.83%. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th were paid a dividend of $0.0242 per share. The ex-dividend date was Monday, August 7th. This represents a $0.10 annualized dividend and a dividend yield of 2.32%. Sirius XM’s dividend payout ratio (DPR) is presently 34.48%.

Insider Buying and Selling at Sirius XM

In related news, CEO Jennifer C. Witz purchased 250,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were acquired at an average price of $4.11 per share, for a total transaction of $1,027,500.00. Following the purchase, the chief executive officer now owns 2,812,000 shares of the company’s stock, valued at approximately $11,557,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Evercore ISI cut shares of Sirius XM from an “in-line” rating to an “underperform” rating and set a $4.50 price objective for the company. in a research report on Friday, July 21st. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, August 21st. Benchmark boosted their price objective on shares of Sirius XM from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, July 21st. StockNews.com initiated coverage on shares of Sirius XM in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Sirius XM from a “sell” rating to a “hold” rating and reduced their price target for the company from $6.25 to $6.00 in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.10.

Get Our Latest Analysis on SIRI

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.