State Board of Administration of Florida Retirement System decreased its holdings in Sirius XM Holdings Inc (NASDAQ:SIRI) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,975,445 shares of the company’s stock after selling 374,769 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of Sirius XM worth $20,144,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. V Wealth Management LLC bought a new position in Sirius XM in the 2nd quarter valued at $108,000. Arnhold LLC bought a new position in Sirius XM in the 1st quarter valued at $125,000. RFG Advisory Group LLC bought a new position in Sirius XM in the 2nd quarter valued at $146,000. Advisory Services Network LLC raised its position in Sirius XM by 121.8% in the 2nd quarter. Advisory Services Network LLC now owns 22,739 shares of the company’s stock valued at $164,000 after purchasing an additional 12,485 shares during the last quarter. Finally, Quad Cities Investment Group LLC bought a new position in Sirius XM in the 1st quarter valued at $174,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.
SIRI stock opened at $6.97 on Friday. The firm has a market cap of $31.26 billion, a PE ratio of 34.85, a PEG ratio of 1.86 and a beta of 1.06. Sirius XM Holdings Inc has a twelve month low of $5.17 and a twelve month high of $7.70. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of -4.70.
Sirius XM (NASDAQ:SIRI) last released its earnings results on Wednesday, July 25th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Sirius XM had a negative return on equity of 78.24% and a net margin of 14.68%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. equities research analysts predict that Sirius XM Holdings Inc will post 0.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 10th will be paid a dividend of $0.011 per share. The ex-dividend date is Thursday, August 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.63%. Sirius XM’s dividend payout ratio (DPR) is presently 20.00%.
In related news, Director Joan Lordi Amble sold 34,565 shares of Sirius XM stock in a transaction on Monday, June 11th. The stock was sold at an average price of $7.25, for a total transaction of $250,596.25. Following the completion of the sale, the director now directly owns 70,404 shares of the company’s stock, valued at $510,429. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Cook sold 415,502 shares of Sirius XM stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $7.20, for a total value of $2,991,614.40. Following the sale, the executive vice president now directly owns 1,988,300 shares of the company’s stock, valued at $14,315,760. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,066,992 shares of company stock valued at $7,743,814. 0.76% of the stock is owned by insiders.
A number of research firms have recently weighed in on SIRI. Macquarie restated a “buy” rating and set a $7.75 target price on shares of Sirius XM in a research report on Thursday, June 28th. Bank of America boosted their target price on Sirius XM from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, June 14th. BidaskClub downgraded Sirius XM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Pivotal Research boosted their target price on Sirius XM from $7.05 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Finally, Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Sirius XM currently has an average rating of “Hold” and a consensus price target of $6.78.
About Sirius XM
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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