Mackay Shields LLC Buys Shares of 15,500 Sirius XM Holdings Inc (NASDAQ:SIRI)

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Mackay Shields LLC bought a new stake in Sirius XM Holdings Inc (NASDAQ:SIRI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,500 shares of the company’s stock, valued at approximately $97,000.

Several other large investors also recently bought and sold shares of the company. IFM Investors Pty Ltd lifted its stake in shares of Sirius XM by 70.5% during the third quarter. IFM Investors Pty Ltd now owns 191,315 shares of the company’s stock worth $1,197,000 after buying an additional 79,086 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Sirius XM by 22.8% during the third quarter. Russell Investments Group Ltd. now owns 155,755 shares of the company’s stock worth $972,000 after buying an additional 28,936 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of Sirius XM by 10.3% during the third quarter. Wetherby Asset Management Inc. now owns 57,766 shares of the company’s stock worth $362,000 after buying an additional 5,380 shares during the period. Comerica Bank lifted its stake in shares of Sirius XM by 5.1% during the third quarter. Comerica Bank now owns 81,354 shares of the company’s stock worth $526,000 after buying an additional 3,954 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Sirius XM by 6.0% during the third quarter. California Public Employees Retirement System now owns 12,690,080 shares of the company’s stock worth $79,376,000 after buying an additional 714,051 shares during the period. Institutional investors and hedge funds own 18.77% of the company’s stock.

In related news, insider Scott Andrew Greenstein sold 231,992 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $6.77, for a total transaction of $1,570,585.84. Following the completion of the transaction, the insider now owns 945,740 shares of the company’s stock, valued at $6,402,659.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David J. Frear sold 222,507 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $6.94, for a total transaction of $1,544,198.58. Following the transaction, the chief financial officer now directly owns 1,409,229 shares of the company’s stock, valued at approximately $9,780,049.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,055,641 shares of company stock valued at $14,016,229. 0.93% of the stock is currently owned by corporate insiders.

Shares of Sirius XM stock opened at $6.95 on Tuesday. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.29 and a quick ratio of 0.28. The firm has a fifty day moving average price of $6.54 and a 200 day moving average price of $6.07. Sirius XM Holdings Inc has a 1 year low of $5.23 and a 1 year high of $7.00. The stock has a market cap of $30.88 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 2.71 and a beta of 1.03.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, October 31st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Sirius XM had a negative return on equity of 129.67% and a net margin of 12.76%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $0.07 EPS. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, equities analysts expect that Sirius XM Holdings Inc will post 0.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be issued a dividend of $0.0133 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, November 7th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio (DPR) is 19.23%.

SIRI has been the subject of several research reports. Benchmark initiated coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They set a “hold” rating and a $8.00 price objective for the company. Zacks Investment Research upgraded shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 price objective for the company in a research note on Monday, November 4th. Pivotal Research reiterated a “buy” rating and set a $7.70 price objective on shares of Sirius XM in a research note on Friday, August 9th. Barrington Research reiterated a “buy” rating and set a $8.00 price objective on shares of Sirius XM in a research note on Thursday, October 31st. Finally, BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $7.45.

Sirius XM Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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