Retirement Systems of Alabama Buys 98,810 Shares of Sirius XM Holdings Inc. $SIRI

Retirement Systems of Alabama boosted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 50.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 293,780 shares of the company’s stock after buying an additional 98,810 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of Sirius XM worth $7,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fulcrum Asset Management LLP increased its holdings in shares of Sirius XM by 92.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 21,966 shares of the company’s stock valued at $566,000 after acquiring an additional 10,564 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in Sirius XM by 114.3% during the third quarter. Kestra Advisory Services LLC now owns 22,755 shares of the company’s stock worth $589,000 after purchasing an additional 12,138 shares during the last quarter. Associated Banc Corp bought a new position in Sirius XM during the third quarter worth $2,821,000. Capital Management Corp VA lifted its stake in Sirius XM by 4.3% during the third quarter. Capital Management Corp VA now owns 444,919 shares of the company’s stock worth $11,514,000 after purchasing an additional 18,528 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Sirius XM in the third quarter worth $128,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Stock Performance

NASDAQ:SIRI traded up $0.11 during midday trading on Friday, reaching $31.85. 3,218,676 shares of the company traded hands, compared to its average volume of 4,879,734. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.52 and a beta of 0.98. The company has a fifty day moving average price of $28.20 and a 200 day moving average price of $26.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.32 and a quick ratio of 0.32. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $33.76.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, October 29th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Sirius XM had a net margin of 10.47% and a return on equity of 9.42%. Sirius XM’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, analysts expect that Sirius XM Holdings Inc. will post 3.00 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 6th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 6th. Sirius XM’s dividend payout ratio is 44.26%.

Wall Street Analysts Forecast Growth

SIRI has been the subject of several recent research reports. UBS Group set a $27.00 target price on shares of Sirius XM in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Sirius XM from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, November 3rd. Deutsche Bank upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and raised their price target for the stock from $31.00 to $45.00 in a research report on Wednesday, September 2nd. Wolfe Research assumed coverage on shares of Sirius XM in a report on Wednesday, September 2nd. They issued an “outperform” rating for the company. Finally, Morgan Stanley boosted their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.67.

About Sirius XM

Sirius XM Holdings Inc. provides audio entertainment through its SiriusXM and Pandora services. SiriusXM offers music, talk, news, sports, and other programming through satellite radio and streaming, including access through its mobile app and in-vehicle systems. The company also operates Pandora, a streaming music and podcast service that offers both ad-supported and subscription listening. Its business includes advertising and connected-vehicle services, alongside subscriptions and audio programming.