Saturday, May 19, 2018

Swiss National Bank Has $32.18 Million Stake in Sirius XM Holdings (SIRI)

Swiss National Bank cut its position in Sirius XM Holdings (NASDAQ:SIRI) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,157,758 shares of the company’s stock after selling 818,600 shares during the period. Swiss National Bank owned about 0.11% of Sirius XM worth $32,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carillon Tower Advisers Inc. bought a new position in shares of Sirius XM during the fourth quarter worth $53,443,000. American Century Companies Inc. boosted its position in shares of Sirius XM by 27.6% during the fourth quarter. American Century Companies Inc. now owns 44,612,437 shares of the company’s stock worth $239,123,000 after acquiring an additional 9,657,090 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Sirius XM by 20.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 43,824,751 shares of the company’s stock valued at $234,901,000 after purchasing an additional 7,449,602 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Sirius XM during the fourth quarter valued at $26,702,000. Finally, APG Asset Management N.V. lifted its position in Sirius XM by 18.1% during the fourth quarter. APG Asset Management N.V. now owns 13,210,562 shares of the company’s stock valued at $58,968,000 after purchasing an additional 2,024,500 shares during the last quarter. 19.39% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Wednesday, January 24th. Buckingham Research increased their price objective on shares of Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Barclays increased their price objective on shares of Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Citigroup lowered shares of Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 price objective for the company. in a research report on Thursday, March 22nd. Finally, ValuEngine upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $6.27.

In related news, EVP Stephen Cook sold 97,550 shares of the firm’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $6.35, for a total value of $619,442.50. Following the transaction, the executive vice president now owns 1,305,993 shares of the company’s stock, valued at approximately $8,293,055.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joan Lordi Amble sold 73,961 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total transaction of $480,746.50. Following the completion of the transaction, the director now directly owns 101,174 shares in the company, valued at approximately $657,631. The disclosure for this sale can be found here. In the last three months, insiders sold 1,846,791 shares of company stock worth $12,271,267. Insiders own 0.76% of the company’s stock.

Shares of SIRI opened at $6.89 on Friday. Sirius XM Holdings has a twelve month low of $6.84 and a twelve month high of $6.94. The firm has a market capitalization of $30.86 billion, a PE ratio of 34.45, a PEG ratio of 1.90 and a beta of 1.10. The company has a current ratio of 0.18, a quick ratio of 0.17 and a debt-to-equity ratio of -4.35.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Wednesday, April 25th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Sirius XM had a net margin of 13.26% and a negative return on equity of 76.24%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. equities research analysts predict that Sirius XM Holdings will post 0.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Thursday, May 10th will be paid a $0.011 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 9th. Sirius XM’s dividend payout ratio is currently 20.00%.

Sirius XM declared that its board has approved a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Sirius XM

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.

Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)