Cambridge Advisors Inc. raised its position in Sirius XM Holdings Inc (NASDAQ:SIRI) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 58,785 shares of the company’s stock after acquiring an additional 2,114 shares during the period. Cambridge Advisors Inc.’s holdings in Sirius XM were worth $336,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in shares of Sirius XM by 152.1% in the third quarter. Wells Fargo & Company MN now owns 7,486,133 shares of the company’s stock valued at $47,312,000 after purchasing an additional 4,516,550 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Sirius XM by 107.0% in the third quarter. Renaissance Technologies LLC now owns 8,506,500 shares of the company’s stock valued at $53,761,000 after purchasing an additional 4,396,500 shares during the period. FMR LLC lifted its stake in shares of Sirius XM by 8.8% in the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock valued at $352,695,000 after purchasing an additional 4,200,422 shares during the period. Janus Henderson Group PLC increased its holdings in Sirius XM by 363.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,057,019 shares of the company’s stock valued at $25,639,000 after acquiring an additional 3,182,187 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Sirius XM by 135.6% during the 2nd quarter. Morgan Stanley now owns 5,508,809 shares of the company’s stock valued at $37,296,000 after acquiring an additional 3,170,709 shares in the last quarter. Institutional investors own 17.35% of the company’s stock.
In other news, EVP Stephen Cook sold 56,118 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $6.13, for a total transaction of $344,003.34. Following the transaction, the executive vice president now directly owns 1,445,007 shares of the company’s stock, valued at $8,857,892.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas D. Barry sold 48,513 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $6.06, for a total transaction of $293,988.78. Following the transaction, the vice president now directly owns 462,465 shares in the company, valued at $2,802,537.90. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. Sirius XM’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities analysts anticipate that Sirius XM Holdings Inc will post 0.22 EPS for the current year.
Sirius XM declared that its board has approved a share repurchase program on Tuesday, January 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Monday, February 11th will be given a dividend of $0.0121 per share. The ex-dividend date is Friday, February 8th. This represents a $0.05 dividend on an annualized basis and a yield of 0.82%. Sirius XM’s dividend payout ratio (DPR) is 19.23%.
Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, November 26th. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Tuesday, January 29th. Buckingham Research upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, January 28th. Pivotal Research restated a “hold” rating and set a $7.00 target price on shares of Sirius XM in a report on Wednesday, October 24th. Finally, BidaskClub downgraded shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.19.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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