Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,463 shares of the company’s stock after selling 15,947 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sirius XM were worth $2,616,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Sirius XM by 4.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 286,740 shares of the company’s stock worth $1,941,000 after acquiring an additional 12,663 shares during the last quarter. KBC Group NV lifted its holdings in shares of Sirius XM by 15.2% during the 2nd quarter. KBC Group NV now owns 424,532 shares of the company’s stock worth $2,874,000 after acquiring an additional 56,166 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Sirius XM during the 2nd quarter worth $14,307,000. First Trust Advisors LP lifted its holdings in shares of Sirius XM by 149.4% during the 2nd quarter. First Trust Advisors LP now owns 2,826,136 shares of the company’s stock worth $19,133,000 after acquiring an additional 1,692,761 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sirius XM by 719.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,108 shares of the company’s stock worth $1,104,000 after acquiring an additional 143,200 shares during the last quarter. Institutional investors own 18.67% of the company’s stock.
In other Sirius XM news, EVP Dara F. Altman sold 387,696 shares of the business’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $7.49, for a total value of $2,903,843.04. Following the transaction, the executive vice president now owns 2,010,556 shares in the company, valued at $15,059,064.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Cook sold 415,502 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the completion of the transaction, the executive vice president now owns 1,988,300 shares in the company, valued at approximately $14,315,760. The disclosure for this sale can be found here. Insiders sold 887,127 shares of company stock worth $6,495,551 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.
SIRI has been the topic of a number of analyst reports. BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. Bank of America lifted their target price on shares of Sirius XM from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, June 14th. Macquarie reiterated a “buy” rating and issued a $7.00 target price on shares of Sirius XM in a research report on Sunday, April 29th. Morgan Stanley lifted their target price on shares of Sirius XM from $6.00 to $6.20 and gave the stock an “underweight” rating in a research report on Monday, August 6th. Finally, Credit Suisse Group initiated coverage on shares of Sirius XM in a research report on Tuesday, July 10th. They issued an “outperform” rating and a $8.50 target price on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.78.
SIRI stock opened at $6.95 on Tuesday. Sirius XM Holdings Inc has a 12-month low of $5.17 and a 12-month high of $7.70. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of -4.70, a quick ratio of 0.16 and a current ratio of 0.16.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Sirius XM had a net margin of 14.68% and a negative return on equity of 78.24%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. equities analysts predict that Sirius XM Holdings Inc will post 0.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 10th will be given a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, August 9th. Sirius XM’s payout ratio is 20.00%.
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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