Pictet Asset Management Ltd. raised its stake in Sirius XM Holdings Inc (NASDAQ:SIRI) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,315,954 shares of the company’s stock after purchasing an additional 80,533 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Sirius XM were worth $7,343,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Sirius XM by 52.2% in the 1st quarter. BlackRock Inc. now owns 123,784,832 shares of the company’s stock valued at $701,859,000 after purchasing an additional 42,438,908 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sirius XM by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 15,660,182 shares of the company’s stock valued at $89,361,000 after purchasing an additional 553,127 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Sirius XM by 65.1% in the 1st quarter. Nordea Investment Management AB now owns 8,651,642 shares of the company’s stock valued at $49,055,000 after purchasing an additional 3,412,671 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Sirius XM by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,733,047 shares of the company’s stock valued at $43,151,000 after acquiring an additional 211,410 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Sirius XM by 9.3% during the 1st quarter. New York State Common Retirement Fund now owns 7,227,896 shares of the company’s stock valued at $40,982,000 after acquiring an additional 614,296 shares in the last quarter. Institutional investors own 18.91% of the company’s stock.
Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a report on Friday, July 19th. Credit Suisse Group upgraded shares of Sirius XM from a “neutral” rating to an “outperform” rating and set a $7.00 target price on the stock in a report on Monday, June 10th. Finally, Pivotal Research restated a “buy” rating and set a $7.70 target price on shares of Sirius XM in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Sirius XM presently has a consensus rating of “Buy” and an average price target of $7.37.
Sirius XM stock traded down $0.07 during midday trading on Monday, hitting $6.32. 325,062 shares of the stock were exchanged, compared to its average volume of 16,449,758. Sirius XM Holdings Inc has a 1 year low of $5.23 and a 1 year high of $7.23. The firm has a market cap of $28.26 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.57 and a beta of 1.02. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $5.89.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, analysts predict that Sirius XM Holdings Inc will post 0.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were given a $0.0121 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 8th. Sirius XM’s payout ratio is currently 19.23%.
Sirius XM Company 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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