Alberta Investment Management Corp Lowers Holdings in Sirius XM Holdings Inc. $SIRI

Alberta Investment Management Corp decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 58.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 620,000 shares of the company’s stock after selling 866,226 shares during the quarter. Alberta Investment Management Corp’s holdings in Sirius XM were worth $12,397,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its stake in Sirius XM by 43.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 20,444 shares of the company’s stock valued at $409,000 after buying an additional 6,241 shares during the last quarter. Verition Fund Management LLC raised its stake in Sirius XM by 17.5% during the fourth quarter. Verition Fund Management LLC now owns 215,676 shares of the company’s stock valued at $4,312,000 after buying an additional 32,105 shares during the last quarter. Brown Advisory Inc. raised its stake in Sirius XM by 6.3% during the fourth quarter. Brown Advisory Inc. now owns 84,610 shares of the company’s stock valued at $1,692,000 after buying an additional 5,000 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Sirius XM during the fourth quarter valued at $712,000. Finally, Maverick Capital Ltd. raised its stake in Sirius XM by 65.4% during the fourth quarter. Maverick Capital Ltd. now owns 248,591 shares of the company’s stock valued at $4,971,000 after buying an additional 98,338 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SIRI shares. Weiss Ratings upgraded Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Citigroup reiterated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Barrington Research boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Evercore set a $28.00 price objective on shares of Sirius XM in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.45.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $27.46 on Tuesday. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $30.11. The firm has a market cap of $9.24 billion, a P/E ratio of 11.59, a PEG ratio of 0.59 and a beta of 0.96. The company has a 50 day moving average of $26.70 and a 200 day moving average of $23.27. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 11th. Sirius XM’s payout ratio is presently 45.57%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.27% of the stock is currently owned by insiders.

Sirius XM 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.