BlackRock Inc. Cuts Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

BlackRock Inc. decreased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 11.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 55,111,306 shares of the company’s stock after selling 7,103,022 shares during the period. BlackRock Inc. owned about 1.42% of Sirius XM worth $314,687,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Coston McIsaac & Partners acquired a new stake in Sirius XM in the second quarter valued at $28,000. Harbor Investment Advisory LLC grew its holdings in Sirius XM by 446.0% in the third quarter. Harbor Investment Advisory LLC now owns 5,460 shares of the company’s stock valued at $31,000 after purchasing an additional 4,460 shares during the last quarter. TimeScale Financial Inc. boosted its stake in shares of Sirius XM by 510.7% during the third quarter. TimeScale Financial Inc. now owns 6,400 shares of the company’s stock valued at $37,000 after acquiring an additional 5,352 shares during the last quarter. TD Capital Management LLC acquired a new stake in shares of Sirius XM during the third quarter valued at $51,000. Finally, Covestor Ltd boosted its stake in shares of Sirius XM by 133.7% during the first quarter. Covestor Ltd now owns 9,568 shares of the company’s stock valued at $63,000 after acquiring an additional 5,474 shares during the last quarter. Institutional investors and hedge funds own 10.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Credit Suisse Group decreased their price objective on Sirius XM from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. Morgan Stanley decreased their price objective on Sirius XM from $6.00 to $5.40 and set an “underweight” rating on the stock in a research note on Friday, February 3rd. Rosenblatt Securities lowered Sirius XM from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $7.40 to $4.80 in a research note on Wednesday, February 22nd. Barrington Research reaffirmed an “outperform” rating and set a $7.00 price objective (down previously from $7.50) on shares of Sirius XM in a research note on Tuesday, February 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $7.00 price objective on shares of Sirius XM in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus target price of $5.77.

Sirius XM Trading Down 3.4 %

NASDAQ SIRI opened at $3.67 on Friday. The business’s 50-day moving average price is $5.15 and its 200 day moving average price is $5.77. The company has a market capitalization of $14.28 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96. Sirius XM Holdings Inc. has a twelve month low of $3.64 and a twelve month high of $6.85.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.31 billion. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. Equities analysts predict that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were issued a $0.0242 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, February 8th. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

About Sirius XM

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Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.