Osaic Holdings Inc. Boosts Stock Holdings in Sirius XM Holdings Inc. $SIRI

Osaic Holdings Inc. raised its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 48.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 181,541 shares of the company’s stock after purchasing an additional 59,620 shares during the quarter. Osaic Holdings Inc.’s holdings in Sirius XM were worth $4,170,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in SIRI. Cresset Asset Management LLC raised its stake in shares of Sirius XM by 9.0% during the 1st quarter. Cresset Asset Management LLC now owns 11,463 shares of the company’s stock worth $258,000 after acquiring an additional 944 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Sirius XM in the fourth quarter worth $622,000. Ninety One UK Ltd lifted its stake in shares of Sirius XM by 78.3% during the second quarter. Ninety One UK Ltd now owns 342,090 shares of the company’s stock worth $7,858,000 after buying an additional 150,261 shares during the period. Hsbc Holdings PLC grew its stake in Sirius XM by 779.4% during the 2nd quarter. Hsbc Holdings PLC now owns 115,237 shares of the company’s stock valued at $2,639,000 after purchasing an additional 102,133 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Sirius XM by 11.7% in the first quarter. Raymond James Financial Inc. now owns 949,582 shares of the company’s stock worth $21,408,000 after purchasing an additional 99,389 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Activity

In other Sirius XM news, Director Kristina Salen sold 1,845 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $21.64, for a total value of $39,925.80. Following the completion of the transaction, the director directly owned 19,969 shares of the company’s stock, valued at $432,129.16. This represents a 8.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sirius XM in a research report on Monday. JPMorgan Chase & Co. raised their target price on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Rosenblatt Securities reiterated a “neutral” rating and set a $23.00 price target on shares of Sirius XM in a report on Monday, December 1st. Finally, Barrington Research reiterated an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.29.

Sirius XM Trading Up 1.3%

Shares of Sirius XM stock opened at $20.70 on Thursday. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $27.41. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.78. The company’s 50-day simple moving average is $21.41 and its 200-day simple moving average is $22.36. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 0.31 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($8.74) earnings per share. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Wednesday, November 5th. 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.