Sirius XM Holdings Inc. $SIRI Shares Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC sharply increased its stake in Sirius XM, boosting holdings by 858.4% in the fourth quarter to 2.08 million shares worth about $41.7 million.
• Institutional interest in Sirius XM remains strong, with several major investors including Berkshire Hathaway and AQR Capital Management also adding to their positions.
• Sirius XM posted better-than-expected quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Hold on average with a consensus price target of $27.45.

Hsbc Holdings PLC raised its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 858.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,076,539 shares of the company's stock after purchasing an additional 1,859,872 shares during the quarter. Hsbc Holdings PLC owned about 0.62% of Sirius XM worth $41,726,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Berkshire Hathaway Inc increased its holdings in shares of Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company's stock worth $2,904,886,000 after buying an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock valued at $117,327,000 after acquiring an additional 3,233,922 shares during the last quarter. Norges Bank purchased a new stake in Sirius XM during the fourth quarter valued at about $57,124,000. Pacer Advisors Inc. purchased a new stake in Sirius XM during the fourth quarter valued at about $34,548,000. Finally, Bank of New York Mellon Corp increased its stake in Sirius XM by 253.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,019,901 shares of the company's stock worth $40,388,000 after acquiring an additional 1,449,036 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SIRI shares. 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 report on Tuesday, May 19th. Weiss Ratings upgraded Sirius XM from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Evercore set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 1st. Barrington Research raised their price target on shares of Sirius XM from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Citigroup reaffirmed a "sell" rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Sirius XM has a consensus rating of "Hold" and a consensus price target of $27.45.

Sirius XM Price Performance

SIRI stock opened at $30.51 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $30.61. The firm has a market cap of $10.27 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The stock has a 50-day simple moving average of $27.83 and a 200-day simple moving average of $23.98.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.72 EPS 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 the consensus estimate of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company's revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. On average, equities analysts predict 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. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.5%. Sirius XM's dividend payout ratio (DPR) is currently 45.57%.

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.

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