Louisiana State Employees Retirement System Purchases Shares of 305,100 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Louisiana State Employees Retirement System purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 305,100 shares of the company’s stock, valued at approximately $1,669,000.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Sirius XM during the 3rd quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of Sirius XM during the 4th quarter valued at about $27,000. Comerica Bank purchased a new position in shares of Sirius XM during the 3rd quarter valued at about $35,000. Delphia USA Inc. purchased a new position in shares of Sirius XM during the 1st quarter valued at about $42,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Sirius XM by 986.0% during the 4th quarter. Altshuler Shaham Ltd now owns 7,526 shares of the company’s stock valued at $44,000 after buying an additional 6,833 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Guggenheim assumed coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup boosted their price target on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a report on Friday, January 12th. Benchmark lowered their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, StockNews.com started coverage on Sirius XM in a report on Saturday, April 13th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.74.

Sirius XM Price Performance

Shares of SIRI opened at $3.09 on Friday. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Sirius XM Holdings Inc. has a 1 year low of $3.04 and a 1 year high of $7.95. The business’s 50 day simple moving average is $4.03 and its 200-day simple moving average is $4.64.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. On average, sell-side analysts expect that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, February 8th. Sirius XM’s dividend payout ratio is currently 34.38%.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

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.