Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 3.8% in the second quarter, Holdings Channel reports. The institutional investor owned 116,913 shares of the company’s stock after selling 4,610 shares during the period. Bank of Nova Scotia’s holdings in Sirius XM were worth $716,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SIRI. Invesco Ltd. raised its position in Sirius XM by 63.8% during the 1st quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after buying an additional 3,074,638 shares during the last quarter. SG Americas Securities LLC raised its position in Sirius XM by 1,784.4% during the 2nd quarter. SG Americas Securities LLC now owns 2,853,631 shares of the company’s stock worth $17,493,000 after buying an additional 2,702,199 shares during the last quarter. Northern Trust Corp raised its position in Sirius XM by 22.6% during the 1st quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock worth $86,779,000 after buying an additional 2,413,360 shares during the last quarter. American Century Companies Inc. raised its position in Sirius XM by 14,191.3% during the 1st quarter. American Century Companies Inc. now owns 2,371,208 shares of the company’s stock worth $15,697,000 after buying an additional 2,354,616 shares during the last quarter. Finally, Landscape Capital Management L.L.C. raised its position in Sirius XM by 1,997.8% during the 1st quarter. Landscape Capital Management L.L.C. now owns 1,972,810 shares of the company’s stock worth $13,060,000 after buying an additional 1,878,770 shares during the last quarter. Hedge funds and other institutional investors own 10.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SIRI shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $8.00 to $7.50 in a research report on Wednesday, November 2nd. Pivotal Research cut their price target on shares of Sirius XM from $7.10 to $6.75 in a report on Wednesday, November 2nd. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Morgan Stanley cut their price target on shares of Sirius XM from $6.50 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM presently has an average rating of “Hold” and an average target price of $6.96.

Sirius XM Trading Up 0.5 %

Shares of NASDAQ SIRI opened at $6.39 on Friday. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 3.09 and a beta of 0.92. Sirius XM Holdings Inc. has a 52 week low of $5.69 and a 52 week high of $6.88. The company’s 50-day moving average price is $6.09 and its 200 day moving average price is $6.21.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 11th will be paid a $0.024 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.50%. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, November 9th. Sirius XM’s dividend payout ratio is presently 34.48%.

About Sirius XM

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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.

Further Reading

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

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