CIBC Asset Management Inc cut its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 49.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,299 shares of the company's stock after selling 10,242 shares during the quarter. CIBC Asset Management Inc's holdings in Sirius XM were worth $235,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of SIRI. Union Bancaire Privee UBP SA acquired a new stake in shares of Sirius XM in the 4th quarter worth $26,000. TCTC Holdings LLC acquired a new stake in shares of Sirius XM during the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of Sirius XM by 574.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock worth $31,000 after purchasing an additional 1,144 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Sirius XM by 670.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,080 shares of the company's stock worth $47,000 after purchasing an additional 1,810 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SIRI has been the subject of a number of recent analyst reports. Barrington Research set a $28.00 price objective on Sirius XM in a research report on Friday, January 31st. The Goldman Sachs Group cut their price objective on Sirius XM from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Pivotal Research cut their price objective on Sirius XM from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, November 1st. StockNews.com assumed coverage on Sirius XM in a research report on Wednesday, November 13th. They set a "sell" rating for the company. Finally, Morgan Stanley lowered their target price on Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.81.
Check Out Our Latest Research Report on SIRI
Sirius XM Stock Up 1.1 %
Shares of SIRI traded up $0.27 during midday trading on Friday, hitting $24.19. The company had a trading volume of 3,846,639 shares, compared to its average volume of 5,514,297. The company's 50-day simple moving average is $23.57 and its 200-day simple moving average is $25.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $8.19 billion, a P/E ratio of -3.77, a P/E/G ratio of 0.79 and a beta of 1.06. Sirius XM Holdings Inc. has a 1 year low of $20.47 and a 1 year high of $45.00.
Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.
Sirius XM Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, February 7th. Sirius XM's payout ratio is -16.85%.
Sirius XM Company Profile
(
Free Report)
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.
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