Sterling Capital Management LLC Acquires 3,482 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sterling Capital Management LLC lifted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 37.4% in the fourth quarter, Holdings Channel reports. The fund owned 12,784 shares of the company’s stock after purchasing an additional 3,482 shares during the quarter. Sterling Capital Management LLC’s holdings in Sirius XM were worth $291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SIRI. Inlight Wealth Management LLC bought a new stake in shares of Sirius XM during the 4th quarter worth approximately $2,560,000. Covestor Ltd lifted its position in shares of Sirius XM by 311.2% during the fourth quarter. Covestor Ltd now owns 4,589 shares of the company’s stock worth $105,000 after purchasing an additional 3,473 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Sirius XM during the fourth quarter valued at $51,535,000. Bessemer Group Inc. grew its holdings in shares of Sirius XM by 3.4% in the fourth quarter. Bessemer Group Inc. now owns 47,124 shares of the company’s stock worth $1,074,000 after purchasing an additional 1,540 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new position in Sirius XM in the 4th quarter worth about $2,715,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SIRI shares. Barrington Research set a $28.00 price target on shares of Sirius XM in a research note on Friday, January 31st. Guggenheim lowered their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley cut their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Six analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and an average target price of $26.81.

Sirius XM Price Performance

Shares of SIRI opened at $20.31 on Monday. The firm has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $24.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $41.60. The stock has a market cap of $6.88 billion, a PE ratio of -3.17, a P/E/G ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, January 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM’s dividend payout ratio is presently -16.85%.

Sirius XM 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.