First Republic Investment Management Inc. lowered its position in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 22.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,126 shares of the company’s stock after selling 23,205 shares during the quarter. First Republic Investment Management Inc.’s holdings in Sirius XM were worth $436,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Sirius XM by 52.2% in the first quarter. BlackRock Inc. now owns 123,784,832 shares of the company’s stock valued at $701,859,000 after buying an additional 42,438,908 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sirius XM by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 15,660,182 shares of the company’s stock worth $89,361,000 after purchasing an additional 553,127 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Sirius XM by 29.7% in the first quarter. California Public Employees Retirement System now owns 10,658,445 shares of the company’s stock worth $60,433,000 after purchasing an additional 2,437,556 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Sirius XM by 65.1% in the first quarter. Nordea Investment Management AB now owns 8,651,642 shares of the company’s stock worth $49,055,000 after purchasing an additional 3,412,671 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Sirius XM by 9.3% in the first quarter. New York State Common Retirement Fund now owns 7,227,896 shares of the company’s stock worth $40,982,000 after purchasing an additional 614,296 shares in the last quarter. 19.02% of the stock is currently owned by hedge funds and other institutional investors.
In other Sirius XM news, insider Jennifer C. Witz sold 504,830 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the completion of the sale, the insider now owns 913,904 shares of the company’s stock, valued at approximately $5,501,702.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas D. Barry sold 164,715 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.99, for a total transaction of $986,642.85. Following the sale, the vice president now directly 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. 0.93% of the stock is owned by company insiders.
Sirius XM stock traded down $0.06 during trading hours on Friday, reaching $6.39. 15,608,532 shares of the stock were exchanged, compared to its average volume of 25,593,746. The company has a market cap of $28.61 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 46.63. Sirius XM Holdings Inc has a twelve month low of $5.23 and a twelve month high of $7.23. The stock has a 50 day moving average of $6.16 and a two-hundred day moving average of $5.89.
Sirius XM (NASDAQ:SIRI) last posted its earnings results on Tuesday, July 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, analysts expect that Sirius XM Holdings Inc will post 0.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were issued a $0.0121 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.05 dividend on an annualized basis and a yield of 0.76%. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.
A number of analysts have recently commented on the stock. ValuEngine raised shares of Sirius XM from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Credit Suisse Group raised shares of Sirius XM from a “neutral” rating to an “outperform” rating and set a $7.00 price target on the stock in a research report on Monday, June 10th. Pivotal Research reiterated a “buy” rating and issued a $7.70 price objective on shares of Sirius XM in a report on Friday, August 9th. Finally, BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sirius XM presently has a consensus rating of “Buy” and a consensus target price of $7.37.
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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