Norges Bank Makes New Investment in Sirius XM Holdings Inc. $SIRI

Norges Bank acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,856,916 shares of the company’s stock, valued at approximately $57,124,000. Norges Bank owned about 0.85% of Sirius XM at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its position in Sirius XM by 4.2% in the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after buying an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC grew its position in Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after acquiring an additional 3,233,922 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Sirius XM by 270.0% during the third quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company’s stock worth $45,003,000 after acquiring an additional 1,410,963 shares in the last quarter. Check Capital Management Inc. CA raised its stake in shares of Sirius XM by 76.7% during the third quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company’s stock worth $47,989,000 after acquiring an additional 895,247 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $19,708,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $27.01 on Monday. The firm has a market capitalization of $9.09 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.58 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $26.17 and a 200 day moving average of $22.98. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $30.11.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm earned $0.59 EPS. The company’s revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 4.0%. Sirius XM’s dividend payout ratio (DPR) is presently 45.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $24.00 price objective on shares of Sirius XM in a research note on Tuesday, February 10th. Citigroup reissued a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Evercore set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 1st. Guggenheim reaffirmed a “buy” rating and set a $34.00 price objective (up from $29.00) on shares of Sirius XM in a research note on Friday, April 24th. Finally, Barrington Research boosted their target price on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.45.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.27% of the stock is currently owned by corporate insiders.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.