Man Group plc Increases Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Man Group plc lifted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 1,002.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,331 shares of the company's stock after purchasing an additional 165,799 shares during the quarter. Man Group plc owned 0.05% of Sirius XM worth $4,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new stake in Sirius XM in the fourth quarter worth $26,000. First Command Advisory Services Inc. bought a new stake in Sirius XM in the fourth quarter worth $30,000. Geneos Wealth Management Inc. lifted its position in Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock worth $31,000 after buying an additional 1,144 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Sirius XM by 255.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after buying an additional 1,321 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Sirius XM in the fourth quarter worth $43,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SIRI. Rosenblatt Securities lowered their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Guggenheim lowered their price target on Sirius XM from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Barrington Research restated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.65.

Sirius XM Trading Up 1.9%

Shares of NASDAQ:SIRI traded up $0.42 on Tuesday, hitting $22.26. 2,359,044 shares of the company's stock were exchanged, compared to its average volume of 5,138,895. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of -3.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.60. The business's 50 day simple moving average is $21.49 and its two-hundred day simple moving average is $23.27.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced 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 firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The business's quarterly 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. Analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.85%. Sirius XM's dividend payout ratio is currently -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.