Level Four Advisory Services LLC grew its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 10.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,271 shares of the company’s stock after acquiring an additional 1,912 shares during the quarter. Level Four Advisory Services LLC’s holdings in Sirius XM were worth $120,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its stake in Sirius XM by 104.6% during the 2nd quarter. Nordea Investment Management AB now owns 16,688,876 shares of the company’s stock valued at $94,626,000 after acquiring an additional 8,531,684 shares during the period. Deutsche Bank AG increased its stake in shares of Sirius XM by 136.3% in the 1st quarter. Deutsche Bank AG now owns 8,133,281 shares of the company’s stock valued at $40,179,000 after purchasing an additional 4,692,045 shares in the last quarter. Morgan Stanley increased its stake in shares of Sirius XM by 113.7% in the 1st quarter. Morgan Stanley now owns 7,390,333 shares of the company’s stock valued at $36,507,000 after purchasing an additional 3,932,133 shares in the last quarter. PGGM Investments purchased a new position in shares of Sirius XM in the 2nd quarter valued at about $22,630,000. Finally, Janus Henderson Group PLC increased its stake in shares of Sirius XM by 254.8% in the 1st quarter. Janus Henderson Group PLC now owns 4,849,281 shares of the company’s stock valued at $23,954,000 after purchasing an additional 3,482,707 shares in the last quarter. Institutional investors own 16.80% of the company’s stock.
Several equities research analysts have commented on the company. Pivotal Research reiterated a “buy” rating and set a $7.50 price objective on shares of Sirius XM in a research note on Thursday, July 30th. Barrington Research reaffirmed a “buy” rating and set a $7.50 target price on shares of Sirius XM in a report on Thursday, July 30th. Morgan Stanley raised their price target on shares of Sirius XM from $6.25 to $6.75 and gave the stock an “equal weight” rating in a research note on Monday, June 15th. BidaskClub cut shares of Sirius XM from a “sell” rating to a “strong sell” rating in a research note on Friday, August 21st. Finally, Deutsche Bank raised their target price on shares of Sirius XM from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Sirius XM currently has a consensus rating of “Hold” and an average target price of $7.02.
Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.05. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts forecast that Sirius XM Holdings Inc will post 0.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 7th were paid a dividend of $0.0133 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.98%. Sirius XM’s payout ratio is 25.00%.
Sirius XM declared that its Board of Directors has approved a stock buyback plan on Tuesday, July 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
About Sirius XM
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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