Alberta Investment Management Corp Sells 866,226 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• Alberta Investment Management Corp cut its Sirius XM stake by 58.3% in the fourth quarter, selling 866,226 shares and leaving it with 620,000 shares worth about $12.4 million.
• Sirius XM reported better-than-expected quarterly results, posting earnings of $0.72 per share versus $0.70 expected and revenue of $2.09 billion versus $2.07 billion forecast.
• The company also pays a quarterly dividend of $0.27 per share, implying a 3.9% yield, while analyst views remain mixed with a consensus rating of Hold and an average price target of $27.45.

Alberta Investment Management Corp cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 58.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 620,000 shares of the company's stock after selling 866,226 shares during the quarter. Alberta Investment Management Corp owned approximately 0.19% of Sirius XM worth $12,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SIRI. Brighton Jones LLC bought a new stake in shares of Sirius XM in the fourth quarter worth about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company's stock worth $20,861,000 after purchasing an additional 92,111 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Sirius XM by 5.2% in the first quarter. Focus Partners Wealth now owns 16,273 shares of the company's stock worth $367,000 after purchasing an additional 800 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock worth $41,000 after purchasing an additional 493 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of Sirius XM in the second quarter worth about $208,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

Sirius XM stock opened at $27.46 on Tuesday. The stock's 50 day simple moving average is $26.70 and its two-hundred day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.59 and a beta of 0.96. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $30.11.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. As a group, analysts expect that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, May 11th. Sirius XM's payout ratio is presently 45.57%.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several recent analyst reports. Citigroup reissued a "sell" rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Barrington Research raised their target price on Sirius XM from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Weiss Ratings raised Sirius XM from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Rosenblatt Securities cut their price objective on Sirius XM from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Sirius XM from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.45.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company's stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.