Sirius XM Holdings Inc. (SIRI) Holdings Decreased by First Mercantile Trust Co.

First Mercantile Trust Co. cut its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 18.8% in the fourth quarter, Holdings Channel reports. The fund owned 40,255 shares of the company’s stock after selling 9,315 shares during the period. First Mercantile Trust Co.’s holdings in Sirius XM were worth $216,000 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. American Century Companies Inc. increased its position in shares of Sirius XM by 27.6% during the fourth quarter. American Century Companies Inc. now owns 44,612,437 shares of the company’s stock valued at $239,123,000 after acquiring an additional 9,657,090 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Sirius XM by 4.0% during the third quarter. Eagle Asset Management Inc. now owns 13,785,317 shares of the company’s stock valued at $75,819,000 after acquiring an additional 526,766 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Sirius XM by 18.1% during the fourth quarter. APG Asset Management N.V. now owns 13,210,562 shares of the company’s stock valued at $58,968,000 after acquiring an additional 2,024,500 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Sirius XM by 13.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,370,146 shares of the company’s stock valued at $34,143,000 after acquiring an additional 777,414 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Sirius XM by 0.5% during the third quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock valued at $33,375,000 after acquiring an additional 27,200 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Sirius XM Holdings Inc. (NASDAQ:SIRI) opened at $5.96 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of -4.42. The firm has a market cap of $26,280.00, a P/E ratio of 42.57, a P/E/G ratio of 1.62 and a beta of 1.17. Sirius XM Holdings Inc. has a twelve month low of $4.73 and a twelve month high of $6.28.

Sirius XM declared that its board has approved a stock repurchase program on Tuesday, January 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, February 6th. Sirius XM’s dividend payout ratio (DPR) is presently 28.57%.

In other Sirius XM news, EVP Joseph A. Verbrugge sold 863,570 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James E. Meyer sold 172,704 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,586,530 shares of company stock valued at $15,157,263 in the last quarter. 1.06% of the stock is currently owned by company insiders.

A number of brokerages have weighed in on SIRI. BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Goldman Sachs Group lifted their price target on shares of Sirius XM from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Monday, February 5th. Morgan Stanley lifted their price objective on shares of Sirius XM from $5.35 to $5.50 and gave the company an “underweight” rating in a report on Monday, February 5th. Buckingham Research lifted their price objective on shares of Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $6.12.

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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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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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