IFM Investors Pty Ltd Boosts Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

IFM Investors Pty Ltd lifted its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 9.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 206,345 shares of the company’s stock after buying an additional 17,512 shares during the period. IFM Investors Pty Ltd’s holdings in Sirius XM were worth $801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc increased its position in shares of Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after acquiring an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its holdings in Sirius XM by 482.9% during the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after purchasing an additional 12,129,166 shares during the period. New York State Common Retirement Fund increased its holdings in Sirius XM by 169.6% during the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after purchasing an additional 6,482,109 shares during the period. Cadian Capital Management LP bought a new position in Sirius XM during the 3rd quarter valued at approximately $8,929,000. Finally, Northern Trust Corp lifted its holdings in Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the period. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SIRI. StockNews.com started coverage on Sirius XM in a research note on Sunday, April 21st. They set a “hold” rating on the stock. Benchmark reduced their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $4.10 to $3.30 in a research report on Wednesday. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their price target for the company from $5.05 to $4.90 in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and a consensus price target of $4.67.

Sirius XM Stock Performance

NASDAQ:SIRI remained flat at $3.02 during mid-day trading on Friday. 31,221,366 shares of the company traded hands, compared to its average volume of 18,099,794. Sirius XM Holdings Inc. has a 1-year low of $2.97 and a 1-year high of $7.95. The company has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $4.60. The stock has a market cap of $11.62 billion, a P/E ratio of 9.44, a PEG ratio of 1.02 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Equities analysts predict that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.0266 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.52%. Sirius XM’s payout ratio is presently 34.38%.

Sirius XM Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, 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 systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.