Raymond James & Associates raised its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 60.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 835,924 shares of the company’s stock after purchasing an additional 316,475 shares during the period. Raymond James & Associates’ holdings in Sirius XM were worth $4,740,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SIRI. Norges Bank acquired a new position in shares of Sirius XM during the fourth quarter worth $72,261,000. BlackRock Inc. increased its position in shares of Sirius XM by 6.9% during the fourth quarter. BlackRock Inc. now owns 81,345,924 shares of the company’s stock worth $464,485,000 after purchasing an additional 5,256,918 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Sirius XM by 240.9% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 6,101,569 shares of the company’s stock worth $34,839,000 after purchasing an additional 4,311,952 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Sirius XM by 613.6% during the fourth quarter. Squarepoint Ops LLC now owns 3,440,241 shares of the company’s stock worth $19,644,000 after purchasing an additional 2,958,141 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Sirius XM by 29.7% during the first quarter. California Public Employees Retirement System now owns 10,658,445 shares of the company’s stock worth $60,433,000 after purchasing an additional 2,437,556 shares in the last quarter. 21.17% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ SIRI opened at $5.31 on Monday. The company has a debt-to-equity ratio of 46.63, a quick ratio of 0.28 and a current ratio of 0.28. Sirius XM Holdings Inc has a 1 year low of $5.24 and a 1 year high of $7.70. The firm has a market capitalization of $24.46 billion, a P/E ratio of 20.42, a PEG ratio of 2.67 and a beta of 1.05.

Sirius XM (NASDAQ:SIRI) last released its 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). Sirius XM had a net margin of 17.08% and a negative return on equity of 96.85%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $0.06 earnings per share. Sirius XM’s revenue was up 26.8% on a year-over-year basis. On average, analysts expect that Sirius XM Holdings Inc will post 0.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 10th were given a $0.0121 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Sirius XM’s payout ratio is 19.23%.

In related news, Director James P. Holden sold 63,067 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $5.68, for a total value of $358,220.56. Following the transaction, the director now directly owns 248,137 shares of the company’s stock, valued at approximately $1,409,418.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Arthur Cady sold 588,503 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $6.13, for a total value of $3,607,523.39. Following the completion of the transaction, the executive vice president now directly owns 1,840,070 shares in the company, valued at $11,279,629.10. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. BidaskClub downgraded Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Barrington Research reaffirmed a “buy” rating and set a $8.00 price target on shares of Sirius XM in a research report on Wednesday, April 24th. Morgan Stanley assumed coverage on Sirius XM in a research report on Friday, March 15th. They set an “equal weight” rating and a $6.50 price target on the stock. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.29.

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Sirius XM Profile

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.

Further Reading: Retained Earnings

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

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