Hsbc Holdings PLC Grows Position in Sirius XM Holdings Inc. $SIRI

Hsbc Holdings PLC lifted its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 858.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,076,539 shares of the company’s stock after acquiring an additional 1,859,872 shares during the period. Hsbc Holdings PLC’s holdings in Sirius XM were worth $41,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIRI. Berkshire Hathaway Inc boosted its holdings in shares of Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after buying an additional 5,030,425 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Sirius XM by 66.3% in the 3rd quarter. Quantbot Technologies LP now owns 133,014 shares of the company’s stock worth $3,096,000 after acquiring an additional 53,019 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Sirius XM in the 4th quarter worth about $622,000. JPMorgan Chase & Co. lifted its position in Sirius XM by 52.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 339,511 shares of the company’s stock valued at $7,902,000 after acquiring an additional 117,250 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Sirius XM during the 3rd quarter valued at about $1,538,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Up 0.5%

NASDAQ:SIRI opened at $28.08 on Wednesday. The firm has a market cap of $9.45 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.60 and a beta of 0.96. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $30.11. The firm has a 50-day simple moving average of $27.23 and a two-hundred day simple moving average of $23.57.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. Analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s dividend payout ratio is 45.57%.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of recent research reports. Citigroup restated a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Weiss Ratings upgraded shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Rosenblatt Securities cut their price target on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.