Great Lakes Advisors LLC trimmed its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 5.1% during the 3rd quarter, Holdings Channel reports. The fund owned 118,139 shares of the company’s stock after selling 6,336 shares during the quarter. Great Lakes Advisors LLC’s holdings in Sirius XM were worth $747,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of SIRI. Aperio Group LLC grew its position in Sirius XM by 10.0% during the 2nd quarter. Aperio Group LLC now owns 563,068 shares of the company’s stock worth $3,812,000 after acquiring an additional 51,284 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Sirius XM by 4.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,241,480 shares of the company’s stock worth $35,485,000 after acquiring an additional 235,664 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Sirius XM by 719.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,108 shares of the company’s stock worth $1,104,000 after acquiring an additional 143,200 shares during the last quarter. First Trust Advisors LP grew its position in Sirius XM by 149.4% during the 2nd quarter. First Trust Advisors LP now owns 2,826,136 shares of the company’s stock worth $19,133,000 after acquiring an additional 1,692,761 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in Sirius XM in the 2nd quarter worth approximately $14,307,000. Institutional investors and hedge funds own 17.31% of the company’s stock.
SIRI has been the subject of several research analyst reports. Zacks Investment Research cut Sirius XM from a “buy” rating to a “hold” rating in a report on Thursday. Barrington Research reiterated a “buy” rating and issued a $8.00 price objective on shares of Sirius XM in a report on Monday, September 24th. MKM Partners increased their price objective on Sirius XM from $8.00 to $9.15 and gave the stock a “neutral” rating in a report on Thursday, September 27th. Pivotal Research reiterated a “hold” rating and issued a $7.00 price objective on shares of Sirius XM in a report on Wednesday, October 24th. Finally, ValuEngine cut Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, September 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $6.85.
Sirius XM (NASDAQ:SIRI) last released its earnings results on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. As a group, analysts expect that Sirius XM Holdings Inc will post 0.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 9th were paid a $0.0121 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, November 8th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio (DPR) is presently 25.00%.
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Sirius XM Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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