Alberta Investment Management Corp Cuts Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• Alberta Investment Management Corp reduced its stake in Sirius XM Holdings by 2.9%, now holding approximately 1.24 million shares valued at around $27.87 million.
• Sirius XM reported earnings per share of $0.57 for the last quarter, missing estimates by $0.19, with a revenue decline of 1.8% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, with a dividend yield of 5.1%, scheduled for payment on August 27th to investors of record.

Alberta Investment Management Corp reduced its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,236,226 shares of the company's stock after selling 36,300 shares during the period. Alberta Investment Management Corp owned approximately 0.36% of Sirius XM worth $27,871,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its position in Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after buying an additional 12,313,544 shares during the period. IFP Advisors Inc grew its position in Sirius XM by 15.6% during the first quarter. IFP Advisors Inc now owns 17,133 shares of the company's stock worth $386,000 after buying an additional 2,307 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Sirius XM by 29.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company's stock worth $1,064,000 after buying an additional 10,876 shares during the period. Ninety One UK Ltd grew its position in shares of Sirius XM by 8.3% in the first quarter. Ninety One UK Ltd now owns 191,829 shares of the company's stock valued at $4,325,000 after purchasing an additional 14,718 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Sirius XM in the fourth quarter valued at approximately $622,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Price Performance

SIRI opened at $21.12 on Friday. The company has a 50-day moving average of $22.80 and a 200-day moving average of $22.71. The company has a market capitalization of $7.14 billion, a P/E ratio of -3.24, a PEG ratio of 0.33 and a beta of 0.92. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $36.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.19). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The company's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's dividend payout ratio is currently -16.56%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SIRI shares. Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Morgan Stanley increased their price target on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Guggenheim reaffirmed a "buy" rating and set a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Wells Fargo & Company increased their price target on shares of Sirius XM from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Finally, Rosenblatt Securities cut their price target on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.50.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director owned 15,471 shares of the company's stock, valued at $344,539.17. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Sirius XM Company Profile

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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