CIBC Asset Management Inc Has $316,000 Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

CIBC Asset Management Inc reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 84.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,622 shares of the company’s stock after selling 604,268 shares during the quarter. CIBC Asset Management Inc’s holdings in Sirius XM were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new position in shares of Sirius XM during the 2nd quarter worth about $159,000. Van ECK Associates Corp lifted its holdings in shares of Sirius XM by 13.8% during the 2nd quarter. Van ECK Associates Corp now owns 597,185 shares of the company’s stock valued at $1,690,000 after purchasing an additional 72,528 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Sirius XM by 13.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 895,927 shares of the company’s stock valued at $2,535,000 after purchasing an additional 108,071 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Sirius XM during the 2nd quarter valued at about $58,000. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Sirius XM by 58.6% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after purchasing an additional 902,079 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Down 6.2 %

NASDAQ:SIRI opened at $2.73 on Monday. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Sirius XM Holdings Inc. has a twelve month low of $2.45 and a twelve month high of $5.78. The stock’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $3.32.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. As a group, analysts anticipate that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio (DPR) is 30.30%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SIRI. Deutsche Bank Aktiengesellschaft cut their price objective on Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Guggenheim cut their price objective on Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a report on Monday, July 15th. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price objective on the stock. in a report on Thursday, July 25th. Finally, Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and cut their target price for the company from $4.25 to $3.25 in a research note on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.80.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the transaction, the insider now directly owns 989,331 shares in the company, valued at $3,126,285.96. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Sirius XM Company 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.