Bastion Asset Management Inc. Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Bastion Asset Management Inc. acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 175,580 shares of the company's stock, valued at approximately $4,305,000. Sirius XM comprises approximately 2.8% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 10th largest position. Bastion Asset Management Inc. owned approximately 0.05% of Sirius XM as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc increased its position in shares of Sirius XM by 11.7% during the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock valued at $2,678,283,000 after purchasing an additional 12,313,544 shares during the last quarter. Geode Capital Management LLC raised its position in Sirius XM by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,914,785 shares of the company's stock worth $89,284,000 after acquiring an additional 154,765 shares during the period. Seizert Capital Partners LLC raised its position in Sirius XM by 16.3% in the fourth quarter. Seizert Capital Partners LLC now owns 2,269,616 shares of the company's stock worth $51,747,000 after acquiring an additional 317,289 shares during the period. LSV Asset Management bought a new stake in shares of Sirius XM during the 4th quarter valued at $51,535,000. Finally, Brandywine Global Investment Management LLC grew its holdings in Sirius XM by 7.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,218,017 shares of the company's stock valued at $50,571,000 after purchasing an additional 150,744 shares during the period. Institutional investors own 10.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SIRI shares. Barrington Research reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a research report on Friday. Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Morgan Stanley reduced their price objective on shares of Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a research note on Thursday, January 23rd. Guggenheim lowered their target price on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Rosenblatt Securities decreased their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday. Six analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.65.

Sirius XM Trading Up 5.0 %

Shares of SIRI opened at $20.47 on Friday. The company's fifty day moving average is $22.00 and its 200 day moving average is $23.84. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $41.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $6.93 billion, a PE ratio of -3.19, a P/E/G ratio of 0.79 and a beta of 0.90.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The company's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. Sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.28%. The ex-dividend date is Friday, May 9th. Sirius XM's payout ratio is -16.56%.

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.

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