IFM Investors Pty Ltd Buys 17,512 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

IFM Investors Pty Ltd lifted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 206,345 shares of the company’s stock after purchasing an additional 17,512 shares during the quarter. IFM Investors Pty Ltd’s holdings in Sirius XM were worth $801,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. AE Wealth Management LLC increased its holdings in Sirius XM by 9.2% in the 3rd quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after buying an additional 7,837 shares during the period. HB Wealth Management LLC increased its stake in Sirius XM by 27.3% in the third quarter. HB Wealth Management LLC now owns 14,740 shares of the company’s stock valued at $67,000 after acquiring an additional 3,163 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Sirius XM during the third quarter valued at approximately $282,000. Handelsbanken Fonder AB lifted its stake in Sirius XM by 16.0% during the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after purchasing an additional 19,832 shares during the last quarter. Finally, Clarius Group LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at $52,000. Institutional investors own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SIRI. Benchmark lowered their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the stock from $5.05 to $4.90 in a research note on Wednesday. Wells Fargo & Company reduced their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Guggenheim initiated coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $4.10 to $3.30 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and an average target price of $4.67.

Insider Buying and Selling

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Sirius XM Price Performance

SIRI remained flat at $3.02 during trading on Friday. 31,221,366 shares of the company’s stock were exchanged, compared to its average volume of 18,099,794. The stock has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $4.60. The stock has a market capitalization of $11.62 billion, a PE ratio of 9.44, a PEG ratio of 1.02 and a beta of 1.04. Sirius XM Holdings Inc. has a 52-week low of $2.97 and a 52-week high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a dividend of $0.0266 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.52%. Sirius XM’s dividend payout ratio (DPR) is 34.38%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.