Sirius XM Holdings Inc (NASDAQ:SIRI) Position Cut by Meiji Yasuda Asset Management Co Ltd.

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Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,745 shares of the company’s stock after selling 10,700 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Sirius XM were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SIRI. Gagnon Securities LLC purchased a new position in Sirius XM during the 1st quarter valued at $849,000. Lazard Asset Management LLC purchased a new position in Sirius XM during the 1st quarter valued at $3,227,000. The Manufacturers Life Insurance Company boosted its holdings in Sirius XM by 5.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 137,392 shares of the company’s stock valued at $779,000 after acquiring an additional 7,185 shares during the period. Northern Trust Corp boosted its holdings in Sirius XM by 14.8% during the 1st quarter. Northern Trust Corp now owns 14,488,456 shares of the company’s stock valued at $82,151,000 after acquiring an additional 1,868,207 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Sirius XM by 8.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 879,683 shares of the company’s stock valued at $4,987,000 after acquiring an additional 68,185 shares during the period. 20.64% of the stock is currently owned by institutional investors.

Shares of NASDAQ SIRI opened at $5.55 on Friday. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.78 and a beta of 1.05. Sirius XM Holdings Inc has a twelve month low of $5.23 and a twelve month high of $7.70.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. Sirius XM had a net margin of 17.08% and a negative return on equity of 96.85%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. Research analysts expect that Sirius XM Holdings Inc will post 0.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 10th were given a dividend of $0.0121 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.

A number of research firms recently issued reports on SIRI. Zacks Investment Research cut Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, May 6th. BidaskClub cut Sirius XM from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Credit Suisse Group upgraded Sirius XM from a “neutral” rating to an “outperform” rating and set a $7.00 price objective for the company in a report on Monday. Barrington Research restated a “buy” rating and set a $8.00 price objective on shares of Sirius XM in a report on Wednesday, April 24th. Finally, Morgan Stanley began coverage on Sirius XM in a report on Friday, March 15th. They set an “equal weight” rating and a $6.50 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.24.

In other Sirius XM news, Director James P. Holden sold 63,067 shares of Sirius XM stock in a transaction on Friday, May 17th. The stock was sold at an average price of $5.68, for a total transaction of $358,220.56. Following the completion of the sale, the director now directly owns 248,137 shares of the company’s stock, valued at approximately $1,409,418.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.93% of the company’s stock.

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Sirius XM Company 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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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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