Cadence Bank Takes $8.89 Million Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cadence Bank acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 389,964 shares of the company’s stock, valued at approximately $8,891,000. Cadence Bank owned 0.12% of Sirius XM as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Union Bancaire Privee UBP SA acquired a new stake in shares of Sirius XM in the 4th quarter worth about $26,000. First Command Advisory Services Inc. bought a new position in Sirius XM in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. increased its stake in shares of Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 1,144 shares during the period. Gables Capital Management Inc. bought a new stake in shares of Sirius XM during the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC boosted its position in shares of Sirius XM by 670.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,080 shares of the company’s stock worth $47,000 after buying an additional 1,810 shares during the period. Institutional investors own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SIRI shares. Rosenblatt Securities lowered their target price on Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Seaport Res Ptn upgraded shares of Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a research report on Thursday, December 19th. Finally, Barrington Research set a $28.00 price objective on shares of Sirius XM in a report on Friday, January 31st. Six analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.81.

Sirius XM Stock Performance

SIRI opened at $20.31 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.88 billion, a PE ratio of -3.17, a P/E/G ratio of 0.79 and a beta of 0.98. The business has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $24.11. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $41.60.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, equities analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.32%. The ex-dividend date is Friday, May 9th. Sirius XM’s payout ratio is -16.85%.

Sirius XM Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.