Haverford Financial Services Inc. raised its holdings in Sirius XM Holdings (NASDAQ:SIRI) by 31.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,500 shares of the company’s stock after purchasing an additional 15,500 shares during the period. Haverford Financial Services Inc.’s holdings in Sirius XM were worth $409,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SIRI. Envestnet Asset Management Inc. boosted its stake in shares of Sirius XM by 413.6% in the first quarter. Envestnet Asset Management Inc. now owns 46,647 shares of the company’s stock worth $297,000 after acquiring an additional 37,565 shares during the last quarter. US Bancorp DE boosted its stake in shares of Sirius XM by 58.5% in the first quarter. US Bancorp DE now owns 149,725 shares of the company’s stock worth $934,000 after acquiring an additional 55,289 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Sirius XM by 162.8% in the first quarter. Neuberger Berman Group LLC now owns 839,643 shares of the company’s stock worth $5,239,000 after acquiring an additional 520,183 shares during the last quarter. Aperio Group LLC lifted its position in Sirius XM by 3.9% during the first quarter. Aperio Group LLC now owns 511,784 shares of the company’s stock worth $3,194,000 after buying an additional 19,008 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in Sirius XM by 151.4% during the first quarter. Engineers Gate Manager LP now owns 532,165 shares of the company’s stock worth $3,321,000 after buying an additional 320,482 shares in the last quarter. 19.39% of the stock is currently owned by institutional investors.
NASDAQ:SIRI opened at $6.89 on Friday. Sirius XM Holdings has a 52 week low of $6.84 and a 52 week high of $6.94. The company has a current ratio of 0.18, a quick ratio of 0.17 and a debt-to-equity ratio of -4.35. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Thursday, May 10th will be given a $0.011 dividend. The ex-dividend date is Wednesday, May 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.64%. Sirius XM’s dividend payout ratio is currently 20.00%.
Sirius XM announced that its board has initiated a stock 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 often a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research report on Wednesday, January 24th. Buckingham Research lifted their price objective on Sirius XM from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on Sirius XM from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Citigroup downgraded Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 price objective on the stock. in a research report on Thursday, March 22nd. Finally, ValuEngine upgraded Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $6.27.
In other Sirius XM news, Director Joan Lordi Amble sold 49,352 shares of Sirius XM stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $6.95, for a total value of $342,996.40. Following the sale, the director now owns 76,174 shares in the company, valued at $529,409.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Frear sold 704,561 shares of Sirius XM stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $6.84, for a total value of $4,819,197.24. Following the completion of the sale, the chief financial officer now owns 2,008,371 shares in the company, valued at approximately $13,737,257.64. The disclosure for this sale can be found here. Insiders sold 1,846,791 shares of company stock worth $12,271,267 in the last 90 days. Company insiders own 0.76% of the company’s stock.
About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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