CIBC Asset Management Inc grew its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 617,007 shares of the company’s stock after buying an additional 14,269 shares during the quarter. CIBC Asset Management Inc’s holdings in Sirius XM were worth $4,085,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in SIRI. Goldman Sachs Group Inc. grew its stake in Sirius XM by 22.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 19,102,250 shares of the company’s stock worth $121,300,000 after buying an additional 3,546,729 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Sirius XM during the fourth quarter worth about $18,360,000. Lazard Asset Management LLC grew its stake in Sirius XM by 509.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,011,835 shares of the company’s stock worth $19,124,000 after buying an additional 2,517,343 shares during the last quarter. ProShare Advisors LLC grew its stake in Sirius XM by 57.5% during the fourth quarter. ProShare Advisors LLC now owns 6,622,336 shares of the company’s stock worth $42,052,000 after buying an additional 2,417,201 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Sirius XM by 610.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 2,310,793 shares of the company’s stock worth $14,674,000 after buying an additional 1,985,649 shares during the last quarter. 11.79% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Sirius XM news, EVP Patrick L. Donnelly sold 408,274 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $6.75, for a total value of $2,755,849.50. Following the sale, the executive vice president now directly owns 791,342 shares in the company, valued at $5,341,558.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Scott Andrew Greenstein sold 1,081,370 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $6.58, for a total transaction of $7,115,414.60. Following the sale, the insider now directly owns 7,198,469 shares in the company, valued at $47,365,926.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick L. Donnelly sold 408,274 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $6.75, for a total transaction of $2,755,849.50. Following the sale, the executive vice president now owns 791,342 shares in the company, valued at $5,341,558.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,530,437 shares of company stock worth $10,136,827. Company insiders own 0.63% of the company’s stock.
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. Sirius XM had a net margin of 14.15% and a negative return on equity of 40.89%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Sell-side analysts expect that Sirius XM Holdings Inc. will post 0.32 EPS for the current fiscal year.
Sirius XM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 5th will be issued a $0.022 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.09 annualized dividend and a yield of 1.34%. Sirius XM’s dividend payout ratio (DPR) is presently 29.03%.
Wall Street Analysts Forecast Growth
SIRI has been the topic of several research analyst reports. Rosenblatt Securities initiated coverage on shares of Sirius XM in a research note on Tuesday, April 19th. They set a “buy” rating and a $8.00 price target on the stock. Morgan Stanley cut shares of Sirius XM from an “equal weight” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research note on Monday, April 18th. Pivotal Research cut shares of Sirius XM from a “buy” rating to a “hold” rating and decreased their price target for the company from $7.55 to $7.10 in a research note on Monday, August 1st. StockNews.com cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Citigroup decreased their price target on shares of Sirius XM from $7.60 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.94.
About Sirius XM
Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.
- Get a free copy of the StockNews.com research report on Sirius XM (SIRI)
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