Picton Mahoney Asset Management Invests $968,000 in Sirius XM Holdings Inc. $SIRI

Picton Mahoney Asset Management acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,609 shares of the company’s stock, valued at approximately $968,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Sirius XM in the fourth quarter worth $622,000. Quantbot Technologies LP lifted its position in shares of Sirius XM by 66.3% during the 3rd quarter. Quantbot Technologies LP now owns 133,014 shares of the company’s stock worth $3,096,000 after buying an additional 53,019 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Sirius XM by 779.4% during the 2nd quarter. Hsbc Holdings PLC now owns 115,237 shares of the company’s stock valued at $2,639,000 after purchasing an additional 102,133 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Sirius XM by 292.5% during the 3rd quarter. SG Americas Securities LLC now owns 113,728 shares of the company’s stock valued at $2,647,000 after acquiring an additional 84,751 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Sirius XM in the third quarter valued at approximately $1,223,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Down 1.7%

Shares of NASDAQ:SIRI opened at $22.25 on Friday. The stock has a market capitalization of $7.45 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.92. The stock’s 50-day moving average price is $21.04 and its 200-day moving average price is $21.73. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $25.35.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Wednesday, February 11th. Sirius XM’s payout ratio is presently 48.21%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Sirius XM from an “underweight” rating to a “neutral” rating and raised their price target for the company from $20.00 to $24.00 in a report on Tuesday, February 10th. Weiss Ratings cut shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. Rosenblatt Securities raised their target price on shares of Sirius XM from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Moffett Nathanson assumed coverage on shares of Sirius XM in a research report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 target price for the company. Finally, UBS Group set a $24.00 price target on shares of Sirius XM in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.44.

Sirius XM Company 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.