Bank of Montreal Can Invests $307,000 in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Bank of Montreal Can bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,458 shares of the company's stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SIRI. Union Bancaire Privee UBP SA acquired a new position in shares of Sirius XM during the fourth quarter worth $26,000. First Command Advisory Services Inc. acquired a new position in Sirius XM in the fourth quarter valued at $30,000. Geneos Wealth Management Inc. boosted its stake in Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock valued at $31,000 after acquiring an additional 1,144 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Sirius XM in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC boosted its stake in Sirius XM by 670.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,080 shares of the company's stock valued at $47,000 after acquiring an additional 1,810 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Sirius XM Trading Down 0.8 %

NASDAQ SIRI traded down $0.19 during trading hours on Tuesday, hitting $21.59. The company's stock had a trading volume of 343,423 shares, compared to its average volume of 4,966,253. The stock has a fifty day moving average of $22.32 and a 200 day moving average of $23.99. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The firm has a market capitalization of $7.31 billion, a P/E ratio of -3.37, a PEG ratio of 0.79 and a beta of 0.98. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. Equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 5.00%. Sirius XM's dividend payout ratio is currently -16.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Guggenheim reduced their target price on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, January 23rd. Barrington Research set a $28.00 price target on shares of Sirius XM in a report on Friday, January 31st. Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Rosenblatt Securities decreased their price objective on Sirius XM from $29.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Six investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $26.81.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.