Mather Group LLC. purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,233 shares of the company’s stock, valued at approximately $338,000.
Several other hedge funds have also recently modified their holdings of the business. Northern Trust Corp raised its stake in shares of Sirius XM by 22.6% in the first quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock worth $86,779,000 after purchasing an additional 2,413,360 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Sirius XM by 20.8% in the third quarter. Victory Capital Management Inc. now owns 9,901,101 shares of the company’s stock worth $56,535,000 after purchasing an additional 1,704,197 shares during the last quarter. Invesco Ltd. raised its stake in shares of Sirius XM by 63.8% in the first quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after purchasing an additional 3,074,638 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Sirius XM by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 7,862,409 shares of the company’s stock worth $44,894,000 after purchasing an additional 45,441 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Sirius XM by 207.4% in the third quarter. New York State Common Retirement Fund now owns 7,324,902 shares of the company’s stock worth $41,825,000 after purchasing an additional 4,941,989 shares during the last quarter. Hedge funds and other institutional investors own 10.10% of the company’s stock.
Analysts Set New Price Targets
SIRI has been the subject of several research analyst reports. Citigroup lowered Sirius XM from a “buy” rating to a “sell” rating and cut their price objective for the stock from $7.00 to $6.00 in a report on Thursday, December 1st. Bank of America lowered Sirius XM from a “buy” rating to a “neutral” rating in a report on Thursday, February 2nd. Morgan Stanley cut their price objective on Sirius XM from $6.00 to $5.40 and set an “underweight” rating for the company in a report on Friday, February 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $7.00 price objective (down previously from $7.50) on shares of Sirius XM in a report on Tuesday, February 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Sirius XM in a report on Thursday, March 9th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.77.
Sirius XM Stock Performance
Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.31 billion. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current fiscal year.
Sirius XM Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were paid a $0.0242 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, February 8th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.76%. Sirius XM’s dividend payout ratio is 33.33%.
Sirius XM Company Profile
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.
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