AMP Capital Investors Ltd cut its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,145,657 shares of the company’s stock after selling 172,413 shares during the quarter. AMP Capital Investors Ltd’s holdings in Sirius XM were worth $7,285,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SIRI. BTR Capital Management Inc. bought a new position in Sirius XM in the 3rd quarter worth approximately $104,000. Burney Co. bought a new position in Sirius XM in the 2nd quarter worth approximately $108,000. OppenheimerFunds Inc. bought a new position in Sirius XM in the 2nd quarter worth approximately $109,000. Verition Fund Management LLC bought a new position in Sirius XM in the 2nd quarter worth approximately $111,000. Finally, Fort L.P. bought a new position in Sirius XM in the 2nd quarter worth approximately $116,000. Institutional investors own 17.31% of the company’s stock.
Several research analysts have weighed in on the company. BidaskClub downgraded Sirius XM from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research note on Thursday, November 15th. Macquarie restated a “buy” rating and issued a $7.75 price target on shares of Sirius XM in a research note on Thursday, September 20th. Credit Suisse Group restated a “neutral” rating and issued a $7.50 price target (down from $8.50) on shares of Sirius XM in a research note on Tuesday, September 25th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $7.00 price objective on shares of Sirius XM in a report on Wednesday, October 24th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.85.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Wednesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, equities research analysts predict that Sirius XM Holdings Inc will post 0.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 9th were issued a dividend of $0.0121 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.78%. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, November 8th. Sirius XM’s dividend payout ratio is 25.00%.
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Sirius XM 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.
Further Reading: Outstanding Shares and The Effect on Share Price
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