Mitsubishi UFJ Trust & Banking Corp Grows Holdings in Sirius XM Holdings Inc. $SIRI

Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 159.6% in the third quarter, Holdings Channel reports. The firm owned 104,547 shares of the company’s stock after buying an additional 64,270 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sirius XM were worth $2,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new stake in shares of Sirius XM in the third quarter valued at about $33,000. Quaker Wealth Management LLC increased its position in Sirius XM by 214.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after acquiring an additional 3,001 shares during the period. True Wealth Design LLC raised its stake in Sirius XM by 47.8% during the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after acquiring an additional 523 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Sirius XM in the 3rd quarter valued at approximately $42,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Sirius XM in a research note on Monday, December 29th. Benchmark restated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Sirius XM in a research report on Friday, October 31st. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a report on Monday, November 3rd. Finally, Moffett Nathanson assumed coverage on shares of Sirius XM in a report on Tuesday. They set a “neutral” rating and a $21.00 price target for the company. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus price target of $23.88.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 1,845 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $21.64, for a total transaction of $39,925.80. Following the sale, the director directly owned 19,969 shares in the company, valued at approximately $432,129.16. The trade was a 8.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

Trending Headlines about Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM declared a quarterly cash dividend of $0.27 per share (annualized yield ~5.3%), payable Feb. 27 to holders of record Feb. 11; ex-dividend Feb. 11. This supports income investors and signals board confidence in cash flow. Read More.
• Positive Sentiment: The company appointed Eve Konstan (former Spotify general counsel) as EVP, Chief Legal Officer effective Feb. 9. Adding a senior media/tech legal executive may strengthen regulatory, content and M&A execution. Read More.
• Positive Sentiment: SiriusXM/FOX Sports Radio will have a strong presence around Super Bowl LX in San Francisco — a high-profile programming and ad-revenue opportunity that can boost listener engagement and short-term advertising/partnership revenue. Read More.
• Neutral Sentiment: Moffett Nathanson initiated research coverage of Sirius XM. New analyst coverage can increase visibility and trading liquidity; the near-term price impact depends on the published rating and estimates. Read More.
• Neutral Sentiment: SiriusXM was mentioned in a list of “cheap, safe” stocks (The Motley Fool piece). Positive press can attract value-oriented investors, but inclusion alone doesn’t change fundamentals. Read More.
• Negative Sentiment: The company agreed to a $28 million settlement in a telemarketing class-action matter; claims filing details and eligibility are being publicized. The cash outflow is modest relative to market cap but introduces near-term legal/administrative costs and headline risk. Read More. Read More. Read More.

Sirius XM Stock Up 1.4%

SIRI stock opened at $20.35 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $20.94 and its 200 day moving average price is $21.94. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $27.41. The company has a market cap of $6.85 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.27 and a beta of 0.93.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned ($8.74) EPS. On average, research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.08 annualized dividend and a yield of 5.3%. Sirius XM’s payout ratio is currently 38.16%.

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.