Cadence Bank Purchases New Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cadence Bank acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.

Several other large investors also recently made changes to their positions in the business. Union Bancaire Privee UBP SA purchased a new position in Sirius XM in the fourth quarter valued at about $26,000. First Command Advisory Services Inc. bought a new position in Sirius XM during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. boosted its position in 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 buying an additional 1,144 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Sirius XM during the 4th quarter worth about $43,000. Finally, Avior Wealth Management LLC boosted its position in Sirius XM by 670.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,080 shares of the company's stock valued at $47,000 after buying an additional 1,810 shares during the last quarter. Institutional investors own 10.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley lowered their price objective on shares of Sirius XM from $23.00 to $21.00 and set an "underweight" rating on the stock in a research note on Thursday, January 23rd. Rosenblatt Securities reduced their price objective on shares of Sirius XM from $29.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Barrington Research set a $28.00 target price on Sirius XM in a research note on Friday, January 31st. Six investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.81.

Sirius XM Stock Up 0.8 %

SIRI traded up $0.16 during mid-day trading on Tuesday, reaching $20.32. 3,010,842 shares of the stock were exchanged, compared to its average volume of 5,296,537. The company has a 50 day moving average price of $22.85 and a two-hundred day moving average price of $24.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60. The stock has a market capitalization of $6.88 billion, a PE ratio of -3.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. As a group, research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM's payout ratio is currently -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.