Illinois Municipal Retirement Fund Decreases Position in Sirius XM Holdings Inc. $SIRI

Illinois Municipal Retirement Fund cut its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 63.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,421 shares of the company’s stock after selling 78,437 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Sirius XM were worth $1,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Sirius XM in the fourth quarter valued at approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after buying an additional 92,111 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after buying an additional 800 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Sirius XM during the 2nd quarter valued at approximately $208,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SIRI. Moffett Nathanson began coverage on shares of Sirius XM in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 price objective on the stock. Weiss Ratings cut shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 6th. UBS Group set a $24.00 target price on shares of Sirius XM in a report on Tuesday, February 10th. Benchmark reiterated a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus price target of $24.44.

Sirius XM Stock Up 0.2%

SIRI stock opened at $21.07 on Thursday. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 0.36 and a beta of 0.93. The company has a 50-day moving average of $20.91 and a two-hundred day moving average of $21.75. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $26.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.30 and a quick ratio of 0.30.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.1%. Sirius XM’s payout ratio is currently 48.21%.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.