World Asset Management Inc decreased its holdings in Sirius XM Holdings Inc (NASDAQ:SIRI) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,405 shares of the company’s stock after selling 3,665 shares during the period. World Asset Management Inc’s holdings in Sirius XM were worth $126,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bartlett & Co. LLC acquired a new stake in Sirius XM in the 1st quarter valued at about $25,000. First Horizon Advisors Inc. raised its holdings in Sirius XM by 45.5% in the 1st quarter. First Horizon Advisors Inc. now owns 6,538 shares of the company’s stock valued at $32,000 after acquiring an additional 2,043 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Sirius XM during the 1st quarter worth approximately $35,000. CENTRAL TRUST Co increased its holdings in shares of Sirius XM by 83.9% during the 1st quarter. CENTRAL TRUST Co now owns 7,890 shares of the company’s stock worth $39,000 after buying an additional 3,600 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth approximately $59,000. Institutional investors own 18.46% of the company’s stock.
Sirius XM stock opened at $5.88 on Friday. Sirius XM Holdings Inc has a fifty-two week low of $4.11 and a fifty-two week high of $7.40. The firm has a 50 day moving average price of $5.85 and a 200 day moving average price of $6.00. The company has a market capitalization of $25.75 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 7th will be given a $0.0133 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.05 annualized dividend and a yield of 0.91%. Sirius XM’s dividend payout ratio is presently 25.00%.
In other Sirius XM news, Director Gregory B. Maffei sold 84,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $5.60, for a total value of $474,600.00. Following the completion of the transaction, the director now owns 515,610 shares of the company’s stock, valued at approximately $2,887,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company’s stock.
SIRI has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Sirius XM from $6.25 to $6.75 and gave the stock an “equal weight” rating in a report on Monday, June 15th. Deutsche Bank raised their price target on shares of Sirius XM from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Pivotal Research restated a “buy” rating and set a $7.50 price target on shares of Sirius XM in a report on Thursday. Royal Bank of Canada restated a “hold” rating and set a $6.00 price target on shares of Sirius XM in a report on Thursday, April 30th. Finally, BidaskClub downgraded shares of Sirius XM from a “hold” rating to a “sell” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.08.
About Sirius XM
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.
See Also: Hold Rating
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