Charles Schwab Investment Management Inc. Boosts Stock Holdings in Sirius XM Holdings Inc. $SIRI

by · The Cerbat Gem

Charles Schwab Investment Management Inc. boosted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,627,230 shares of the company’s stock after acquiring an additional 151,942 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sirius XM were worth $32,536,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp raised its stake in Sirius XM by 0.7% during the fourth quarter. State Street Corp now owns 3,487,415 shares of the company’s stock worth $69,731,000 after purchasing an additional 25,906 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Sirius XM during the fourth quarter worth approximately $40,000. Concorde Asset Management LLC purchased a new position in Sirius XM during the fourth quarter worth approximately $231,000. Advisors Asset Management Inc. raised its stake in Sirius XM by 25.5% during the fourth quarter. Advisors Asset Management Inc. now owns 452,955 shares of the company’s stock worth $9,057,000 after purchasing an additional 92,091 shares during the period. Finally, Rossby Financial LCC raised its stake in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SIRI. UBS Group set a $24.00 price target on shares of Sirius XM in a research note on Tuesday, February 10th. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Guggenheim reaffirmed a “buy” rating and set a $34.00 price target (up from $29.00) on shares of Sirius XM in a research note on Friday, April 24th. Moffett Nathanson began coverage on shares of Sirius XM in a research note on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $27.55.

View Our Latest Analysis on SIRI

Sirius XM Price Performance

Sirius XM stock opened at $25.83 on Friday. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $28.77. The firm has a fifty day moving average of $24.36 and a 200-day moving average of $22.28. The firm has a market capitalization of $8.69 billion, a P/E ratio of 10.90, a PEG ratio of 0.56 and a beta of 0.94. 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 – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 4.2%. Sirius XM’s dividend payout ratio is presently 45.57%.

Sirius XM Company Profile

(Free Report)

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.

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