BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 15.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,289,942 shares of the company’s stock after selling 239,442 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sirius XM were worth $7,120,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of SIRI. Macquarie Group Ltd. grew its holdings in Sirius XM by 476.2% in the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock valued at $101,000 after buying an additional 15,200 shares in the last quarter. Pitcairn Co. grew its holdings in Sirius XM by 1.3% in the 2nd quarter. Pitcairn Co. now owns 18,708 shares of the company’s stock valued at $102,000 after buying an additional 237 shares in the last quarter. Colony Group LLC purchased a new stake in Sirius XM in the 2nd quarter valued at $102,000. Toronto Dominion Bank grew its holdings in Sirius XM by 9.7% in the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock valued at $111,000 after buying an additional 1,799 shares in the last quarter. Finally, Advisor Partners LLC grew its holdings in Sirius XM by 103.7% in the 2nd quarter. Advisor Partners LLC now owns 23,449 shares of the company’s stock valued at $128,000 after buying an additional 11,938 shares in the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.
In related news, EVP Patrick L. Donnelly sold 1,374,479 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the transaction, the executive vice president now owns 227,430 shares of the company’s stock, valued at approximately $1,296,351. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted $0.04 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. sell-side analysts expect that Sirius XM Holdings Inc. will post 0.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 9th were paid a dividend of $0.011 per share. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.04 annualized dividend and a yield of 0.78%. Sirius XM’s dividend payout ratio is presently 22.22%.
Several analysts have issued reports on the company. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of Sirius XM in a report on Friday, August 25th. BidaskClub upgraded Sirius XM from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Zacks Investment Research lowered Sirius XM from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $6.00 price target on shares of Sirius XM in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Sirius XM has a consensus rating of “Buy” and an average target price of $6.01.
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About Sirius XM
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.
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