Impax Asset Management Group plc Acquires New Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Impax Asset Management Group plc bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 4th quarter, HoldingsChannel reports. The fund bought 154,000 shares of the company’s stock, valued at approximately $842,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SIRI. Truvestments Capital LLC acquired a new position in shares of Sirius XM during the third quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in Sirius XM in the 4th quarter valued at about $27,000. Hibernia Wealth Partners LLC bought a new position in shares of Sirius XM during the 3rd quarter valued at about $30,000. FNY Investment Advisers LLC acquired a new position in shares of Sirius XM in the 3rd quarter worth approximately $34,000. Finally, Comerica Bank bought a new stake in shares of Sirius XM in the 3rd quarter worth approximately $35,000. 10.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.34 on Friday. The stock’s 50-day moving average is $4.26 and its 200-day moving average is $4.69. The company has a market cap of $12.85 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.15 and a beta of 1.04. Sirius XM Holdings Inc. has a 52-week low of $3.27 and a 52-week high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, equities analysts predict that Sirius XM Holdings Inc. will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is currently 31.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SIRI. Guggenheim initiated coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. StockNews.com initiated coverage on Sirius XM in a report on Friday, April 5th. They set a “hold” rating on the stock. Citigroup lifted their price objective on shares of Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Benchmark reduced their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Wells Fargo & Company lowered their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.70.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.