Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Sirius XM by 6.0% during the second quarter. Stifel Financial Corp now owns 98,209 shares of the company’s stock worth $538,000 after buying an additional 5,563 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Sirius XM by 34.9% during the second quarter. Royal Bank of Canada now owns 516,025 shares of the company’s stock valued at $2,824,000 after acquiring an additional 133,434 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Sirius XM by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock valued at $101,000 after acquiring an additional 15,200 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Sirius XM during the second quarter valued at $417,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Sirius XM by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 168,477 shares of the company’s stock valued at $922,000 after acquiring an additional 20,156 shares during the period. Institutional investors own 20.35% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Buckingham Research started coverage on Sirius XM in a report on Friday, January 19th. They set a “buy” rating and a $6.50 price objective on the stock. BidaskClub upgraded Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $6.00 target price on Sirius XM and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley lifted their target price on Sirius XM from $5.35 to $5.50 and gave the company an “underweight” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $6.12.
Sirius XM Holdings Inc. (NASDAQ SIRI) remained flat at $$6.11 during trading hours on Wednesday. 11,867,900 shares of the stock were exchanged, compared to its average volume of 23,870,447. The stock has a market cap of $27,450.00, a price-to-earnings ratio of 44.00, a price-to-earnings-growth ratio of 1.71 and a beta of 1.17. 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 one year low of $4.73 and a one year high of $6.28.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th will be issued a dividend of $0.011 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.72%. Sirius XM’s payout ratio is presently 28.57%.
Sirius XM declared that its Board of Directors has authorized a stock buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP Patrick L. Donnelly sold 1,374,479 shares of Sirius XM stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the sale, the executive vice president now directly owns 227,430 shares of the company’s stock, valued at approximately $1,296,351. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas D. Barry sold 175,777 shares of Sirius XM stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.11, for a total value of $1,073,997.47. Following the sale, the vice president now directly owns 551,815 shares of the company’s stock, valued at $3,371,589.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,586,530 shares of company stock valued at $15,157,263. 1.06% of the stock is owned by corporate insiders.
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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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