HighPoint Advisor Group LLC reduced its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 35.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,916 shares of the company’s stock after selling 48,054 shares during the period. HighPoint Advisor Group LLC’s holdings in Sirius XM were worth $514,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors acquired a new stake in Sirius XM during the 3rd quarter valued at $9,952,000. Crossmark Global Holdings Inc. acquired a new stake in Sirius XM during the 3rd quarter valued at $361,000. FDx Advisors Inc. acquired a new stake in Sirius XM during the 3rd quarter valued at $204,000. Sei Investments Co. grew its holdings in Sirius XM by 10.7% during the 3rd quarter. Sei Investments Co. now owns 338,354 shares of the company’s stock valued at $1,868,000 after buying an additional 32,791 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Sirius XM by 1.4% during the 3rd quarter. New York State Common Retirement Fund now owns 3,479,400 shares of the company’s stock valued at $19,206,000 after buying an additional 49,500 shares during the last quarter. 20.01% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Joan Lordi Amble sold 73,961 shares of Sirius XM stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total value of $480,746.50. Following the transaction, the director now owns 101,174 shares in the company, valued at $657,631. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total value of $5,267,777.00. Following the completion of the transaction, the executive vice president now owns 2,986,689 shares in the company, valued at approximately $18,218,802.90. The disclosure for this sale can be found here. Insiders have sold 1,113,308 shares of company stock worth $6,822,521 in the last 90 days. Insiders own 1.06% of the company’s stock.
A number of brokerages have commented on SIRI. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Wednesday, January 24th. Buckingham Research increased their target price on Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Barclays increased their target price on Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Royal Bank of Canada set a $6.00 target price on Sirius XM and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Goldman Sachs increased their target price on Sirius XM from $5.00 to $5.50 and gave the company a “buy” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $6.23.
Shares of SIRI stock opened at $6.32 on Wednesday. Sirius XM Holdings Inc. has a fifty-two week low of $4.73 and a fifty-two week high of $6.62. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42. The stock has a market capitalization of $28,478.42, a price-to-earnings ratio of 33.37, a PEG ratio of 1.77 and a beta of 1.10.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Sirius XM had a negative return on equity of 79.79% and a net margin of 11.94%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. research analysts expect that Sirius XM Holdings Inc. will post 0.24 EPS for the current fiscal year.
Sirius XM declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 6th. Sirius XM’s dividend payout ratio (DPR) is 30.77%.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2018/03/21/sirius-xm-holdings-inc-siri-shares-sold-by-highpoint-advisor-group-llc.html.
Sirius XM Company Profile
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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.