Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 42,783 Shares of Sirius XM Holdings Inc (SIRI)
Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 9.9% in the first quarter, HoldingsChannel.com reports. The fund owned 476,036 shares of the company’s stock after purchasing an additional 42,783 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Sirius XM were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Sirius XM by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,548,464 shares of the company’s stock worth $22,428,000 after purchasing an additional 33,820 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Sirius XM by 8.7% during the third quarter. TIAA CREF Investment Management LLC now owns 6,329,149 shares of the company’s stock worth $40,000,000 after purchasing an additional 509,148 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Sirius XM by 6.4% during the third quarter. Nordea Investment Management AB now owns 5,235,888 shares of the company’s stock worth $33,090,000 after purchasing an additional 313,424 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Sirius XM by 2.3% during the third quarter. Legal & General Group Plc now owns 6,875,146 shares of the company’s stock worth $43,467,000 after purchasing an additional 155,877 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Sirius XM by 44.1% during the third quarter. Morgan Stanley now owns 7,938,067 shares of the company’s stock worth $50,169,000 after purchasing an additional 2,429,258 shares during the last quarter. 17.15% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP James Arthur Cady sold 588,503 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total value of $3,607,523.39. Following the transaction, the executive vice president now owns 1,840,070 shares in the company, valued at $11,279,629.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Sirius XM had a net margin of 17.08% and a negative return on equity of 96.85%. Sirius XM’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. As a group, equities analysts predict that Sirius XM Holdings Inc will post 0.22 earnings per share for the current fiscal year.
Sirius XM declared that its board has authorized a stock repurchase plan on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 10th will be issued a $0.0121 dividend. This represents a $0.05 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio is 19.23%.
Several brokerages have recently commented on SIRI. Zacks Investment Research cut Sirius XM from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub cut Sirius XM from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Tuesday, January 29th. Buckingham Research upgraded Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, January 28th. Finally, Barrington Research reiterated a “buy” rating and issued a $8.00 price target on shares of Sirius XM in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $7.26.
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About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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