Hsbc Holdings PLC Increases Position in Sirius XM Holdings Inc. $SIRI

Hsbc Holdings PLC increased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 858.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,076,539 shares of the company’s stock after acquiring an additional 1,859,872 shares during the quarter. Hsbc Holdings PLC’s holdings in Sirius XM were worth $41,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SIRI. Rossby Financial LCC boosted its stake in shares of Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after buying an additional 593 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Sirius XM in the fourth quarter worth $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Sirius XM in the fourth quarter valued at $40,000. Finally, PeakShares LLC acquired a new stake in Sirius XM in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

NASDAQ:SIRI opened at $30.51 on Monday. The firm has a market capitalization of $10.27 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The stock has a 50 day moving average of $27.83 and a 200-day moving average of $23.98. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $30.61. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $0.59 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.5%. Sirius XM’s dividend payout ratio (DPR) is currently 45.57%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SIRI has been the subject of several recent analyst reports. Barrington Research raised their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Citigroup restated a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Guggenheim reissued a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average target price of $27.45.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.