AQR Capital Management LLC decreased its stake in Sirius XM Holdings Inc (NASDAQ:SIRI) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 318,512 shares of the company’s stock after selling 21,184 shares during the quarter. AQR Capital Management LLC’s holdings in Sirius XM were worth $1,808,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in SIRI. Community Bank N.A. purchased a new position in shares of Sirius XM in the 2nd quarter worth approximately $29,000. Magnus Financial Group LLC bought a new stake in shares of Sirius XM during the 1st quarter worth approximately $55,000. JustInvest LLC bought a new stake in shares of Sirius XM during the 1st quarter worth approximately $57,000. Brave Asset Management Inc. bought a new stake in shares of Sirius XM during the 2nd quarter worth approximately $61,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Sirius XM by 1,017.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 11,175 shares of the company’s stock worth $66,000 after acquiring an additional 10,175 shares during the last quarter. Hedge funds and other institutional investors own 16.80% of the company’s stock.
Shares of NASDAQ:SIRI opened at $5.12 on Friday. Sirius XM Holdings Inc has a 12-month low of $4.11 and a 12-month high of $7.40. The business’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $5.63. The company has a market capitalization of $22.22 billion, a PE ratio of 23.27, a P/E/G ratio of 1.47 and a beta of 1.14.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. Sirius XM had a negative return on equity of 141.29% and a net margin of 12.98%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $0.06 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. Sell-side analysts forecast that Sirius XM Holdings Inc will post 0.23 EPS for the current fiscal year.
Sirius XM declared that its Board of Directors has authorized a stock buyback program on Tuesday, July 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 7th were issued a $0.0133 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.04%. Sirius XM’s dividend payout ratio is presently 25.00%.
A number of equities research analysts recently issued reports on SIRI shares. Deutsche Bank raised their price target on Sirius XM from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. BidaskClub lowered Sirius XM from a “sell” rating to a “strong sell” rating in a research note on Friday, August 21st. Benchmark raised Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Wednesday, September 16th. Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating and set a $6.50 target price for the company. in a research report on Tuesday, August 4th. Finally, Citigroup lifted their target price on Sirius XM from $5.90 to $6.75 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $7.02.
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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