Sirius XM Holdings Inc. $SIRI Holdings Raised by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 50.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 293,780 shares of the company’s stock after buying an additional 98,810 shares during the quarter. Retirement Systems of Alabama’s holdings in Sirius XM were worth $7,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SIRI. Fulcrum Asset Management LLP increased its stake in Sirius XM by 92.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 21,966 shares of the company’s stock valued at $566,000 after buying an additional 10,564 shares during the period. Kestra Advisory Services LLC raised its position in shares of Sirius XM by 114.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 22,755 shares of the company’s stock worth $589,000 after buying an additional 12,138 shares in the last quarter. Associated Banc Corp acquired a new stake in shares of Sirius XM in the 3rd quarter worth approximately $2,821,000. Capital Management Corp VA lifted its stake in shares of Sirius XM by 4.3% in the 3rd quarter. Capital Management Corp VA now owns 444,919 shares of the company’s stock worth $11,514,000 after acquiring an additional 18,528 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sirius XM in the third quarter valued at approximately $128,000. Institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Deutsche Bank upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and raised their price objective for the company from $31.00 to $45.00 in a research note on Wednesday, September 2nd. Citigroup reissued a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Wells Fargo & Company upped their price objective on Sirius XM from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. TD Cowen lowered Sirius XM to a “hold” rating in a report on Wednesday, September 2nd. Finally, The Goldman Sachs Group upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $32.67.

Sirius XM Trading Up 0.3%

Shares of SIRI traded up $0.11 during midday trading on Friday, hitting $31.85. The stock had a trading volume of 3,218,676 shares, compared to its average volume of 4,879,734. The business has a 50-day simple moving average of $28.20 and a two-hundred day simple moving average of $26.74. The firm has a market cap of $10.72 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.52 and a beta of 0.98. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.66. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $33.76.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. Sirius XM had a net margin of 10.47% and a return on equity of 9.42%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.00 EPS for the current year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, November 6th. Sirius XM’s payout ratio is presently 44.26%.

Sirius XM Company Profile

Sirius XM Holdings Inc. provides audio entertainment through its SiriusXM and Pandora services. SiriusXM offers music, talk, news, sports, and other programming through satellite radio and streaming, including access through its mobile app and in-vehicle systems. The company also operates Pandora, a streaming music and podcast service that offers both ad-supported and subscription listening. Its business includes advertising and connected-vehicle services, alongside subscriptions and audio programming.