Legg Mason Asset Management Japan Co. Ltd. trimmed its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 28.6% during the 4th quarter, Holdings Channel reports. The firm owned 168,900 shares of the company’s stock after selling 67,600 shares during the period. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Sirius XM were worth $906,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Barings LLC boosted its position in Sirius XM by 182.6% in the fourth quarter. Barings LLC now owns 421,700 shares of the company’s stock worth $2,260,000 after purchasing an additional 272,500 shares during the last quarter. Swiss National Bank raised its stake in shares of Sirius XM by 0.5% in the third quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock worth $33,375,000 after buying an additional 27,200 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Sirius XM by 19.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 5,419,576 shares of the company’s stock worth $29,915,000 after buying an additional 874,255 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sirius XM by 9.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 423,790 shares of the company’s stock worth $2,339,000 after buying an additional 36,867 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Sirius XM by 38.0% in the fourth quarter. Toronto Dominion Bank now owns 95,155 shares of the company’s stock worth $510,000 after buying an additional 26,198 shares during the period. 19.65% of the stock is currently owned by institutional investors and hedge funds.
SIRI has been the topic of several recent research reports. Buckingham Research initiated coverage on Sirius XM in a research note on Friday, January 19th. They issued a “buy” rating and a $6.50 price objective on the stock. BidaskClub raised Sirius XM from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Royal Bank of Canada set a $6.00 price objective on Sirius XM and gave the stock a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley raised their price objective on Sirius XM from $5.35 to $5.50 and gave the stock an “underweight” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $6.12.
Shares of Sirius XM Holdings Inc. (NASDAQ SIRI) opened at $6.54 on Friday. The stock has a market capitalization of $29,110.00, a P/E ratio of 46.71, a P/E/G ratio of 1.81 and a beta of 1.10. Sirius XM Holdings Inc. has a 12 month low of $4.73 and a 12 month high of $6.55. The company has a debt-to-equity ratio of -4.42, a quick ratio of 0.16 and a current ratio of 0.17.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th were paid a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, February 6th. Sirius XM’s dividend payout ratio (DPR) is presently 28.57%.
Sirius XM announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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About Sirius XM
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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