Royal Bank of Canada trimmed its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 27.0% in the first quarter, HoldingsChannel reports. The firm owned 99,165 shares of the company’s stock after selling 36,661 shares during the period. Royal Bank of Canada’s holdings in Sirius XM were worth $2,288,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of SIRI. Dimensional Fund Advisors LP grew its holdings in shares of Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares during the last quarter. AQR Capital Management LLC grew its holdings in Sirius XM by 165.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after acquiring an additional 3,233,922 shares during the last quarter. Norges Bank acquired a new stake in Sirius XM in the 4th quarter valued at about $57,124,000. Hsbc Holdings PLC increased its position in Sirius XM by 858.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after acquiring an additional 1,859,872 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Sirius XM in the fourth quarter worth about $34,548,000. Institutional investors own 10.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SIRI. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 target price on shares of Sirius XM in a research report on Tuesday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Barrington Research upped their price target on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Benchmark reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.92.
Insider Activity
In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the transaction, the director directly owned 18,354 shares of the company’s stock, valued at $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.27% of the stock is owned by company insiders.
Sirius XM Stock Performance
SIRI stock opened at $29.13 on Tuesday. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The firm has a market cap of $9.82 billion, a PE ratio of 11.65, a P/E/G ratio of 0.62 and a beta of 0.95. The business’s 50-day moving average price is $29.50 and its two-hundred day moving average price is $26.04.
Sirius XM (NASDAQ:SIRI – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business posted $0.57 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.
Sirius XM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio is currently 43.20%.
Sirius XM Company Profile
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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