Quadrature Capital Ltd decreased its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 264,834 shares of the company’s stock after selling 9,522 shares during the period. Quadrature Capital Ltd’s holdings in Sirius XM were worth $1,557,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bartlett & Co. LLC acquired a new position in Sirius XM during the first quarter worth $25,000. Community Bank N.A. acquired a new position in Sirius XM during the second quarter worth $29,000. First Horizon Advisors Inc. raised its holdings in Sirius XM by 45.5% during the first quarter. First Horizon Advisors Inc. now owns 6,538 shares of the company’s stock worth $32,000 after buying an additional 2,043 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its holdings in Sirius XM by 9,453.3% during the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 8,789 shares of the company’s stock worth $43,000 after buying an additional 8,697 shares during the last quarter. Finally, Brave Asset Management Inc. acquired a new position in Sirius XM during the second quarter worth $61,000. Hedge funds and other institutional investors own 16.80% of the company’s stock.
Shares of SIRI stock traded down $0.04 during trading hours on Friday, reaching $5.72. The stock had a trading volume of 24,106,205 shares, compared to its average volume of 20,601,334. The stock’s fifty day simple moving average is $5.92 and its 200 day simple moving average is $5.78. Sirius XM Holdings Inc has a 12 month low of $4.11 and a 12 month high of $7.40. The firm has a market capitalization of $24.83 billion, a PE ratio of 26.00, a PEG ratio of 1.53 and a beta of 1.14.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $0.06 earnings per share. Sirius XM’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that Sirius XM Holdings Inc will post 0.23 EPS for the current fiscal year.
Sirius XM declared that its board has approved a share repurchase plan on Tuesday, July 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 7th were given a $0.0133 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.93%. Sirius XM’s dividend payout ratio (DPR) is currently 25.00%.
Several analysts have recently commented on SIRI shares. Citigroup increased their target price on shares of Sirius XM from $5.90 to $6.75 and gave the company a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Sirius XM from $6.25 to $6.75 and gave the company an “equal weight” rating in a report on Monday, June 15th. BidaskClub downgraded shares of Sirius XM from a “sell” rating to a “strong sell” rating in a report on Friday, August 21st. Barrington Research reiterated a “buy” rating and issued a $7.50 target price on shares of Sirius XM in a report on Thursday, July 30th. Finally, Deutsche Bank increased their target price on shares of Sirius XM from $7.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.09.
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.
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