Geode Capital Management LLC reduced its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,456,869 shares of the company’s stock after selling 13,389 shares during the quarter. Geode Capital Management LLC owned about 0.32% of Sirius XM worth $77,444,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Valmark Advisers Inc. increased its holdings in Sirius XM by 102.3% during the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock worth $108,000 after acquiring an additional 10,230 shares during the period. Cornerstone Financial Partners LLC bought a new stake in Sirius XM during the 4th quarter worth approximately $113,000. Kalos Management Inc. bought a new stake in Sirius XM during the 3rd quarter worth approximately $114,000. SeaCrest Wealth Management LLC bought a new position in shares of Sirius XM in the 4th quarter worth $115,000. Finally, AE Wealth Management LLC increased its holdings in shares of Sirius XM by 72.7% in the 3rd quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock worth $130,000 after buying an additional 9,924 shares during the last quarter. Institutional investors own 20.01% of the company’s stock.
In other Sirius XM news, VP Thomas D. Barry sold 175,777 shares of Sirius XM stock in a transaction that occurred on 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 transaction, the vice president now owns 551,815 shares of the company’s stock, valued at $3,371,589.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the sale, the executive vice president now owns 2,986,689 shares in the company, valued at approximately $18,218,802.90. The disclosure for this sale can be found here. In the last three months, insiders sold 1,113,308 shares of company stock worth $6,822,521. 1.06% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. Deutsche Bank raised shares of Sirius XM from a “hold” rating to a “buy” rating and increased their price target for the stock from $5.25 to $6.50 in a report on Friday, January 19th. BidaskClub cut shares of Sirius XM from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Barclays upped their price objective on shares of Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut shares of Sirius XM from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $5.36 to $5.00 in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $6.23.
Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down $0.02 during mid-day trading on Tuesday, hitting $6.32. 4,665,224 shares of the stock were exchanged, compared to its average volume of 21,802,752. Sirius XM Holdings Inc. has a 52-week low of $4.73 and a 52-week high of $6.62. The company has a market capitalization of $29,107.28, a price-to-earnings ratio of 48.77, a PEG ratio of 1.81 and a beta of 1.10. 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 (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. Sirius XM had a net margin of 11.94% and a negative return on equity of 79.79%. sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.24 EPS for the current year.
Sirius XM announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th were issued a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, February 6th. Sirius XM’s payout ratio is 30.77%.
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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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