State Board of Administration of Florida Retirement System grew its position in Sirius XM Holdings Inc (NASDAQ:SIRI) by 8.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,042,770 shares of the company’s stock after buying an additional 238,530 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Sirius XM were worth $17,253,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its stake in Sirius XM by 8.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 6,329,149 shares of the company’s stock valued at $40,000,000 after buying an additional 509,148 shares during the last quarter. Legal & General Group Plc increased its stake in Sirius XM by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 6,875,146 shares of the company’s stock valued at $43,467,000 after buying an additional 155,877 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Sirius XM by 2.9% in the 4th quarter. State of Alaska Department of Revenue now owns 301,881 shares of the company’s stock valued at $1,723,000 after buying an additional 8,636 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Sirius XM by 0.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,370,167 shares of the company’s stock valued at $7,824,000 after buying an additional 6,558 shares during the last quarter. Finally, First United Bank Trust purchased a new stake in Sirius XM in the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 16.91% of the company’s stock.
Several research firms have commented on SIRI. Zacks Investment Research lowered shares of Sirius XM from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. BidaskClub lowered shares of Sirius XM from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Pivotal Research reiterated a “hold” rating and issued a $7.00 price objective on shares of Sirius XM in a research note on Thursday, January 31st. Morgan Stanley began coverage on shares of Sirius XM in a research note on Friday, March 15th. They issued an “equal weight” rating and a $6.50 price objective for the company. Finally, B. Riley reiterated a “buy” rating on shares of Sirius XM in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Sirius XM has an average rating of “Hold” and an average target price of $7.29.
In related news, EVP James Arthur Cady sold 588,503 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $6.13, for a total value of $3,607,523.39. Following the completion of the transaction, the executive vice president now directly owns 1,840,070 shares of the company’s stock, valued at approximately $11,279,629.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.
Shares of SIRI stock opened at $5.63 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 46.63. Sirius XM Holdings Inc has a 12-month low of $5.48 and a 12-month high of $7.70. The company has a market cap of $25.29 billion, a PE ratio of 21.65, a P/E/G ratio of 2.78 and a beta of 1.03.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.02). Sirius XM had a negative return on equity of 96.85% and a net margin of 17.08%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities analysts forecast that Sirius XM Holdings Inc will post 0.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 10th will be issued a $0.0121 dividend. This represents a $0.05 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.
Sirius XM declared that its board has approved a stock buyback program on Tuesday, January 29th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Sirius XM Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
See Also: How is a buy-side analyst different from a sell-side analyst?
Want to see what other hedge funds are holding SIRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sirius XM Holdings Inc (NASDAQ:SIRI).