Aviva PLC cut its stake in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 621,433 shares of the company’s stock after selling 51,932 shares during the period. Aviva PLC’s holdings in Sirius XM were worth $3,927,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BTR Capital Management Inc. bought a new position in shares of Sirius XM in the third quarter worth approximately $104,000. Burney Co. bought a new position in shares of Sirius XM in the second quarter worth approximately $108,000. OppenheimerFunds Inc. bought a new position in shares of Sirius XM in the second quarter worth approximately $109,000. Verition Fund Management LLC bought a new position in shares of Sirius XM in the second quarter worth approximately $111,000. Finally, Fort L.P. bought a new position in shares of Sirius XM in the second quarter worth approximately $116,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.
Several research analysts recently weighed in on SIRI shares. MKM Partners upped their price objective on shares of Sirius XM from $8.00 to $9.15 and gave the stock a “neutral” rating in a research report on Thursday, September 27th. BidaskClub upgraded shares of Sirius XM from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Barrington Research restated a “buy” rating and issued a $8.00 price objective on shares of Sirius XM in a research report on Monday, September 24th. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Thursday, November 22nd. Finally, Macquarie restated a “buy” rating and issued a $7.75 price objective on shares of Sirius XM in a research report on Thursday, September 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Sirius XM has an average rating of “Hold” and a consensus target price of $6.85.
Sirius XM (NASDAQ:SIRI) last issued its earnings results on Wednesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. Sirius XM’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, equities analysts expect that Sirius XM Holdings Inc will post 0.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 9th were paid a $0.0121 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.05 annualized dividend and a yield of 0.78%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio is currently 25.00%.
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About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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