BNP Paribas Arbitrage SA increased its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 80.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,496,518 shares of the company’s stock after purchasing an additional 668,583 shares during the period. BNP Paribas Arbitrage SA’s holdings in Sirius XM were worth $8,485,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. We Are One Seven LLC purchased a new stake in Sirius XM during the 4th quarter worth $41,000. Bruderman Asset Management LLC boosted its position in Sirius XM by 268.3% during the 4th quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock worth $49,000 after purchasing an additional 6,241 shares during the period. Liberty Wealth Management LLC purchased a new stake in Sirius XM during the 4th quarter worth $49,000. CWM LLC boosted its position in Sirius XM by 127.2% in the 4th quarter. CWM LLC now owns 8,959 shares of the company’s stock valued at $51,000 after buying an additional 5,015 shares during the last quarter. Finally, Sound View Wealth Advisors LLC purchased a new position in Sirius XM in the 4th quarter valued at about $57,000. 16.91% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Thursday, April 25th. Barrington Research reissued a “buy” rating and issued a $8.00 price objective on shares of Sirius XM in a research report on Wednesday, April 24th. BidaskClub raised shares of Sirius XM from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley assumed coverage on shares of Sirius XM in a research report on Friday, March 15th. They issued an “equal weight” rating and a $6.50 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $7.29.
In related news, EVP James Arthur Cady sold 588,503 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the sale, the executive vice president now owns 1,840,070 shares in the company, valued at $11,279,629.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James P. Holden sold 63,067 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $5.68, for a total transaction of $358,220.56. Following the sale, the director now owns 248,137 shares in the company, valued at approximately $1,409,418.16. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
Shares of SIRI stock traded down $0.08 during trading hours on Wednesday, hitting $5.56. 15,723,643 shares of the company were exchanged, compared to its average volume of 28,518,764. The company has a debt-to-equity ratio of 46.63, a quick ratio of 0.28 and a current ratio of 0.28. Sirius XM Holdings Inc has a one year low of $5.48 and a one year high of $7.70. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.82 and a beta of 1.03.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Sirius XM had a negative return on equity of 96.85% and a net margin of 17.08%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, research analysts forecast that Sirius XM Holdings Inc will post 0.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be given a dividend of $0.0121 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.05 annualized dividend and a dividend yield of 0.87%. Sirius XM’s payout ratio is 19.23%.
Sirius XM announced that its board has authorized a stock repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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About Sirius XM
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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