California State Teachers Retirement System lowered its stake in Sirius XM Holdings Inc (NASDAQ:SIRI) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,935,978 shares of the company’s stock after selling 100,964 shares during the period. California State Teachers Retirement System’s holdings in Sirius XM were worth $11,054,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. We Are One Seven LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at approximately $41,000. Bruderman Asset Management LLC boosted its position in shares of Sirius XM by 268.3% during the fourth quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock valued at $49,000 after buying an additional 6,241 shares during the period. CWM LLC boosted its position in shares of Sirius XM by 127.2% during the fourth quarter. CWM LLC now owns 8,959 shares of the company’s stock valued at $51,000 after buying an additional 5,015 shares during the period. Sound View Wealth Advisors LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at approximately $57,000. Finally, Hurlow Wealth Management Group Inc. purchased a new position in shares of Sirius XM during the fourth quarter valued at approximately $58,000. Institutional investors own 16.72% of the company’s stock.
SIRI has been the subject of several recent analyst reports. Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a research report on Thursday, December 6th. BidaskClub lowered Sirius XM from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. JPMorgan Chase & Co. upgraded Sirius XM from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $7.00 in a research report on Wednesday, January 2nd. Pivotal Research restated a “hold” rating and set a $7.00 target price on shares of Sirius XM in a research report on Thursday, January 31st. Finally, Macquarie set a $8.00 target price on Sirius XM and gave the company a “buy” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.22.
Sirius XM stock opened at $6.11 on Wednesday. Sirius XM Holdings Inc has a fifty-two week low of $5.48 and a fifty-two week high of $7.70. The company has a market cap of $27.22 billion, a PE ratio of 23.50, a P/E/G ratio of 2.50 and a beta of 1.05.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Sirius XM Holdings Inc will post 0.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Monday, February 11th were paid a dividend of $0.0121 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 8th. Sirius XM’s dividend payout ratio is presently 19.23%.
Sirius XM declared that its Board of Directors has approved a share repurchase program on Tuesday, January 29th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Sirius XM Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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