Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,258 shares of the company’s stock after selling 18,156 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Sirius XM were worth $1,049,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIRI. Stifel Financial Corp grew its holdings in Sirius XM by 6.0% during the 2nd quarter. Stifel Financial Corp now owns 98,209 shares of the company’s stock valued at $538,000 after purchasing an additional 5,563 shares in the last quarter. Royal Bank of Canada grew its holdings in Sirius XM by 34.9% during the 2nd quarter. Royal Bank of Canada now owns 516,025 shares of the company’s stock worth $2,824,000 after acquiring an additional 133,434 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Sirius XM by 476.2% during the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after acquiring an additional 15,200 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Sirius XM during the 2nd quarter worth $417,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Sirius XM by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 168,477 shares of the company’s stock worth $922,000 after acquiring an additional 20,156 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. B. Riley reissued a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, January 24th. Buckingham Research raised their price objective on shares of Sirius XM from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Pivotal Research reissued a “buy” rating and set a $6.80 price objective (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Finally, Barclays raised their price objective on shares of Sirius XM from $4.50 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $6.12.
In related news, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $6.10, for a total value of $5,267,777.00. Following the sale, the executive vice president now directly owns 2,986,689 shares in the company, valued at approximately $18,218,802.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas D. Barry sold 175,777 shares of Sirius XM stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the sale, the vice president now owns 551,815 shares in the company, valued at $3,371,589.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,586,530 shares of company stock worth $15,157,263. Insiders own 1.06% of the company’s stock.
Sirius XM Holdings Inc. (SIRI) opened at $5.96 on Wednesday. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16. Sirius XM Holdings Inc. has a 52-week low of $4.73 and a 52-week high of $6.28. The stock has a market cap of $26,277.41, a PE ratio of 30.79, a PEG ratio of 1.63 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th will be given a $0.011 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.74%. Sirius XM’s payout ratio is currently 30.77%.
Sirius XM announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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Sirius XM Profile
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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