Amalgamated Bank increased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,354 shares of the company’s stock after buying an additional 17,350 shares during the quarter. Amalgamated Bank’s holdings in Sirius XM were worth $908,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Valmark Advisers Inc. grew its stake in Sirius XM by 102.3% during the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock valued at $108,000 after purchasing an additional 10,230 shares in the last quarter. Cornerstone Financial Partners LLC acquired a new stake in Sirius XM during the 4th quarter valued at approximately $113,000. Kalos Management Inc. acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $114,000. SeaCrest Wealth Management LLC acquired a new stake in Sirius XM during the 4th quarter valued at approximately $115,000. Finally, AE Wealth Management LLC grew its stake in Sirius XM by 72.7% during the 3rd quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock valued at $130,000 after purchasing an additional 9,924 shares in the last quarter. Institutional investors and hedge funds own 20.02% of the company’s stock.
In related news, Director Joan Lordi Amble sold 73,961 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total value of $480,746.50. Following the sale, the director now directly owns 101,174 shares in the company, valued at approximately $657,631. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph A. Verbrugge sold 863,570 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 2,986,689 shares in the company, valued at $18,218,802.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,113,308 shares of company stock worth $6,822,521. 1.06% of the stock is owned by insiders.
Shares of NASDAQ SIRI traded down $0.05 during mid-day trading on Friday, hitting $6.26. The company had a trading volume of 15,783,169 shares, compared to its average volume of 14,879,357. The company has a market cap of $28,343.66, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11. Sirius XM Holdings Inc. has a 12 month low of $4.73 and a 12 month high of $6.62. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. Sirius XM had a negative return on equity of 79.79% and a net margin of 11.94%. equities analysts forecast that Sirius XM Holdings Inc. will post 0.24 earnings per share for the current fiscal year.
Sirius XM announced that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of brokerages have weighed in on SIRI. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Wednesday, January 24th. Buckingham Research raised their price objective on Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup downgraded Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 target price on the stock. in a report on Thursday, March 22nd. Barclays increased their target price on Sirius XM from $4.50 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Finally, ValuEngine raised Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Sirius XM presently has a consensus rating of “Buy” and an average price target of $6.21.
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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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