Concorde Asset Management LLC decreased its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 46.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,979 shares of the company’s stock after selling 13,917 shares during the period. Concorde Asset Management LLC’s holdings in Sirius XM were worth $101,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Sirius XM by 5.7% during the second quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock worth $529,167,000 after acquiring an additional 4,249,152 shares during the last quarter. FMR LLC grew its stake in shares of Sirius XM by 8.8% during the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock worth $352,695,000 after acquiring an additional 4,200,422 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Sirius XM by 2.2% during the second quarter. Eagle Asset Management Inc. now owns 16,900,331 shares of the company’s stock worth $114,415,000 after acquiring an additional 365,343 shares during the last quarter. Carillon Tower Advisers Inc. grew its stake in shares of Sirius XM by 4.5% during the second quarter. Carillon Tower Advisers Inc. now owns 11,697,707 shares of the company’s stock worth $79,193,000 after acquiring an additional 501,219 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Sirius XM by 4.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,651,298 shares of the company’s stock worth $42,033,000 after acquiring an additional 285,598 shares during the last quarter. Institutional investors and hedge funds own 18.59% of the company’s stock.
A number of brokerages have recently weighed in on SIRI. Pivotal Research restated a “hold” rating and set a $7.00 price target on shares of Sirius XM in a research note on Wednesday, October 24th. Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. ValuEngine lowered Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Credit Suisse Group began coverage on Sirius XM in a research note on Tuesday, July 10th. They set an “outperform” rating and a $8.50 price target on the stock. Finally, Morgan Stanley boosted their price target on Sirius XM from $6.00 to $6.20 and gave the stock an “underweight” rating in a research note on Monday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.83.
Sirius XM (NASDAQ:SIRI) last issued its earnings results on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. Sirius XM’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, equities analysts expect that Sirius XM Holdings Inc will post 0.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be given a $0.0121 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.05 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio is currently 20.00%.
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.
See Also: Discover Your Risk Tolerance
Want to see what other hedge funds are holding SIRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sirius XM Holdings Inc (NASDAQ:SIRI).
Receive News & Ratings for Sirius XM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM and related companies with MarketBeat.com's FREE daily email newsletter.