Mirae Asset Global Investments Co. Ltd. Acquires 581,087 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 28.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,639,874 shares of the company’s stock after acquiring an additional 581,087 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sirius XM were worth $17,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. People s United Financial Inc. grew its holdings in Sirius XM by 5.0% during the fourth quarter. People s United Financial Inc. now owns 34,014 shares of the company’s stock worth $216,000 after buying an additional 1,625 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Sirius XM by 5.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 34,654 shares of the company’s stock valued at $229,000 after buying an additional 1,712 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Sirius XM by 4.3% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 43,859 shares of the company’s stock valued at $290,000 after purchasing an additional 1,794 shares during the period. TD Asset Management Inc. raised its stake in shares of Sirius XM by 0.5% during the 1st quarter. TD Asset Management Inc. now owns 388,384 shares of the company’s stock valued at $2,571,000 after purchasing an additional 1,825 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Sirius XM by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after purchasing an additional 1,845 shares during the period. Institutional investors own 10.74% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of analyst reports. Citigroup decreased their price objective on Sirius XM from $7.60 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Pivotal Research lowered Sirius XM from a “buy” rating to a “hold” rating and decreased their price objective for the company from $7.55 to $7.10 in a research note on Monday, August 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.94.

Insider Activity

In other news, EVP Patrick L. Donnelly sold 408,274 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $6.75, for a total transaction of $2,755,849.50. Following the transaction, the executive vice president now directly owns 791,342 shares in the company, valued at approximately $5,341,558.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott Andrew Greenstein sold 1,081,370 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $6.58, for a total transaction of $7,115,414.60. Following the completion of the sale, the insider now directly owns 7,198,469 shares in the company, valued at approximately $47,365,926.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick L. Donnelly sold 408,274 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $6.75, for a total value of $2,755,849.50. Following the sale, the executive vice president now owns 791,342 shares of the company’s stock, valued at $5,341,558.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,530,437 shares of company stock worth $10,136,827. 0.63% of the stock is currently owned by insiders.

Sirius XM Trading Up 0.5 %

Shares of Sirius XM stock opened at $5.97 on Monday. The firm has a market capitalization of $23.25 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The business’s 50-day moving average price is $6.37 and its 200-day moving average price is $6.29. Sirius XM Holdings Inc. has a 12 month low of $5.69 and a 12 month high of $6.88.

Sirius XM (NASDAQ:SIRIGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. Sirius XM had a net margin of 14.15% and a negative return on equity of 40.89%. Sirius XM’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. As a group, analysts predict that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Friday, August 5th were given a dividend of $0.022 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.09 annualized dividend and a dividend yield of 1.47%. Sirius XM’s dividend payout ratio (DPR) is presently 29.03%.

Sirius XM Company Profile

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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