State Board of Administration of Florida Retirement System cut its position in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,824,850 shares of the company’s stock after selling 150,595 shares during the period. State Board of Administration of Florida Retirement System owned about 0.06% of Sirius XM worth $17,853,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Sirius XM by 5.7% during the second quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock valued at $529,167,000 after purchasing an additional 4,249,152 shares during the period. FMR LLC increased its position in shares of Sirius XM by 8.8% during the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock valued at $352,695,000 after purchasing an additional 4,200,422 shares during the period. Eagle Asset Management Inc. increased its position in shares of Sirius XM by 2.2% during the second quarter. Eagle Asset Management Inc. now owns 16,900,331 shares of the company’s stock valued at $114,415,000 after purchasing an additional 365,343 shares during the period. Carillon Tower Advisers Inc. increased its position in shares of Sirius XM by 4.5% during the second quarter. Carillon Tower Advisers Inc. now owns 11,697,707 shares of the company’s stock valued at $79,193,000 after purchasing an additional 501,219 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Sirius XM by 4.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,651,298 shares of the company’s stock valued at $42,033,000 after purchasing an additional 285,598 shares during the period. Institutional investors and hedge funds own 18.61% of the company’s stock.
Shares of SIRI stock opened at $6.21 on Friday. The firm has a market capitalization of $28.30 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.60 and a beta of 1.04. Sirius XM Holdings Inc has a one year low of $5.17 and a one year high of $7.70.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. Sirius XM’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. Equities analysts forecast that Sirius XM Holdings Inc will post 0.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 9th will be paid a $0.0121 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.05 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s payout ratio is currently 20.00%.
A number of analysts have recently issued reports on SIRI shares. MKM Partners boosted their price objective on Sirius XM from $8.00 to $9.15 and gave the company a “neutral” rating in a research report on Thursday, September 27th. Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. BidaskClub lowered Sirius XM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Barrington Research reaffirmed a “buy” rating and issued a $8.00 price target on shares of Sirius XM in a research note on Monday, September 24th. Finally, Macquarie reaffirmed a “buy” rating and issued a $7.75 price target on shares of Sirius XM in a research note on Thursday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.83.
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Sirius XM Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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