Huntington National Bank boosted its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 18.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,956 shares of the company’s stock after buying an additional 2,756 shares during the period. Huntington National Bank’s holdings in Sirius XM were worth $112,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in Sirius XM by 20.2% during the 2nd quarter. Invesco Ltd. now owns 48,900,561 shares of the company’s stock worth $272,864,000 after buying an additional 8,221,787 shares during the period. California Public Employees Retirement System raised its holdings in Sirius XM by 6.0% during the 3rd quarter. California Public Employees Retirement System now owns 12,690,080 shares of the company’s stock worth $79,376,000 after buying an additional 714,051 shares during the period. Bank of New York Mellon Corp raised its holdings in Sirius XM by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,733,047 shares of the company’s stock worth $43,151,000 after buying an additional 211,410 shares during the period. Nuveen Asset Management LLC acquired a new stake in Sirius XM during the 2nd quarter worth approximately $39,980,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Sirius XM by 0.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 6,777,414 shares of the company’s stock worth $37,818,000 after buying an additional 32,642 shares during the period. Hedge funds and other institutional investors own 18.83% of the company’s stock.
SIRI has been the topic of several research analyst reports. Benchmark initiated coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set a “hold” rating and a $8.00 target price on the stock. Zacks Investment Research upgraded shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 price objective on the stock in a report on Monday, November 4th. ValuEngine upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Co initiated coverage on shares of Sirius XM in a report on Monday, September 23rd. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.45.
In other news, Director David Zaslav sold 77,747 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $6.78, for a total value of $527,124.66. Following the completion of the sale, the director now owns 145,246 shares of the company’s stock, valued at $984,767.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 231,992 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $6.77, for a total transaction of $1,570,585.84. Following the completion of the sale, the insider now directly owns 945,740 shares of the company’s stock, valued at approximately $6,402,659.80. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.
Shares of NASDAQ SIRI traded up $0.05 during midday trading on Friday, reaching $6.85. The company’s stock had a trading volume of 15,187,700 shares, compared to its average volume of 24,124,141. The stock has a 50 day simple moving average of $6.43 and a 200-day simple moving average of $6.02. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.65 and a beta of 1.03. Sirius XM Holdings Inc has a fifty-two week low of $5.23 and a fifty-two week high of $6.88. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 46.63.
Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Sirius XM had a net margin of 12.76% and a negative return on equity of 129.67%. The company’s revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. As a group, equities analysts anticipate that Sirius XM Holdings Inc will post 0.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be given a $0.0133 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s payout ratio is presently 19.23%.
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.
Further Reading: Quantitative Easing
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