Nordea Investment Management AB Acquires 11,160 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Nordea Investment Management AB increased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 19.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,897 shares of the company’s stock after acquiring an additional 11,160 shares during the period. Nordea Investment Management AB’s holdings in Sirius XM were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SIRI. Truvestments Capital LLC bought a new stake in Sirius XM during the 3rd quarter worth $27,000. Hibernia Wealth Partners LLC bought a new stake in Sirius XM during the 3rd quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in Sirius XM during the 3rd quarter worth $34,000. Comerica Bank bought a new stake in Sirius XM during the 3rd quarter worth $35,000. Finally, Delphia USA Inc. bought a new stake in Sirius XM during the 1st quarter worth $42,000. Institutional investors own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SIRI shares. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, March 20th. They set a “hold” rating on the stock. Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $7.00 target price on shares of Sirius XM in a report on Wednesday, December 13th. Citigroup lifted their target price on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a report on Friday, January 12th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 target price (down from $5.00) on shares of Sirius XM in a report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $4.89.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $3.86 on Wednesday. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.32 and a beta of 1.05. The business’s 50-day moving average is $4.69 and its 200-day moving average is $4.75. Sirius XM Holdings Inc. has a 1 year low of $3.32 and a 1 year high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Analysts anticipate that Sirius XM Holdings Inc. will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s payout ratio is 31.25%.

Insider Activity at Sirius XM

In related news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Sirius XM Profile

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.