Successful Portfolios LLC raised its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 31.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,054 shares of the company’s stock after purchasing an additional 4,322 shares during the quarter. Successful Portfolios LLC’s holdings in Sirius XM were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIRI. Invesco Ltd. boosted its holdings in Sirius XM by 20.2% during the second quarter. Invesco Ltd. now owns 48,900,561 shares of the company’s stock valued at $272,864,000 after purchasing an additional 8,221,787 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Sirius XM during the second quarter valued at approximately $39,980,000. Marshall Wace LLP boosted its holdings in Sirius XM by 2,854.6% during the first quarter. Marshall Wace LLP now owns 5,633,487 shares of the company’s stock valued at $31,941,000 after purchasing an additional 5,442,820 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Sirius XM during the first quarter valued at approximately $25,591,000. Finally, Nordea Investment Management AB boosted its holdings in Sirius XM by 65.1% during the first quarter. Nordea Investment Management AB now owns 8,651,642 shares of the company’s stock valued at $49,055,000 after purchasing an additional 3,412,671 shares in the last quarter. 18.91% of the stock is currently owned by institutional investors.
SIRI stock opened at $6.31 on Friday. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day moving average price of $6.25 and a 200 day moving average price of $5.93. Sirius XM Holdings Inc has a fifty-two week low of $5.23 and a fifty-two week high of $6.51. The stock has a market capitalization of $27.79 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be given a $0.0133 dividend. This represents a $0.05 annualized dividend and a yield of 0.84%. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s payout ratio is 19.23%.
In related news, insider Jennifer C. Witz sold 504,830 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total value of $3,039,076.60. Following the completion of the transaction, the insider now owns 913,904 shares in the company, valued at approximately $5,501,702.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas D. Barry sold 164,715 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.99, for a total transaction of $986,642.85. Following the completion of the transaction, the vice president now owns 265,735 shares of the company’s stock, valued at approximately $1,591,752.65. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.
A number of research firms have recently issued reports on SIRI. ValuEngine cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Benchmark began coverage on shares of Sirius XM in a research note on Wednesday. They issued a “hold” rating and a $8.00 target price for the company. Pivotal Research reiterated a “buy” rating and issued a $7.70 target price on shares of Sirius XM in a research note on Friday, August 9th. BidaskClub cut shares of Sirius XM from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Co began coverage on shares of Sirius XM in a research note on Monday, September 23rd. They issued an “outperform” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.32.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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