Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 14.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,886 shares of the company’s stock after selling 5,935 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sirius XM were worth $787,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SIRI. Applied Finance Capital Management LLC boosted its holdings in shares of Sirius XM by 5.1% during the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company’s stock valued at $220,000 after purchasing an additional 475 shares during the last quarter. Allegiance Financial Group Advisory Services LLC boosted its stake in Sirius XM by 5.5% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company’s stock valued at $286,000 after buying an additional 660 shares during the last quarter. Polianta Ltd boosted its stake in Sirius XM by 1.5% during the first quarter. Polianta Ltd now owns 48,300 shares of the company’s stock valued at $1,088,000 after buying an additional 700 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Sirius XM by 79.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company’s stock valued at $36,000 after buying an additional 705 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Sirius XM by 37.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company’s stock worth $68,000 after acquiring an additional 823 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the sale, the director owned 15,471 shares in the company, valued at approximately $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SIRI. Guggenheim reissued a “buy” rating and issued a $29.00 target price on shares of Sirius XM in a report on Thursday, June 26th. Morgan Stanley lifted their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 16th. Seaport Res Ptn upgraded shares of Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Rosenblatt Securities increased their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday. Finally, Barrington Research reiterated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.50.

Sirius XM Trading Up 0.6%

Shares of NASDAQ SIRI opened at $21.74 on Wednesday. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $36.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -3.22, a PEG ratio of 0.33 and a beta of 0.92. The business’s 50 day moving average price is $22.77 and its 200-day moving average price is $22.71.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.22). The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. On average, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. Sirius XM’s dividend payout ratio (DPR) is -16.00%.

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.