Miracle Mile Advisors LLC Purchases Shares of 11,736 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Miracle Mile Advisors LLC purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,736 shares of the company’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. bought a new position in Sirius XM in the 2nd quarter worth $12,858,000. Sessa Capital IM L.P. bought a new position in shares of Sirius XM in the third quarter worth about $77,983,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth about $67,598,000. Seizert Capital Partners LLC bought a new stake in Sirius XM during the 3rd quarter valued at approximately $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sirius XM in the 2nd quarter valued at approximately $5,192,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Rosenblatt Securities upped their target price on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Citigroup raised their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Barrington Research dropped their price objective on shares of Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Finally, Wells Fargo & Company reduced their target price on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.58.

Sirius XM Stock Performance

Sirius XM stock opened at $21.93 on Friday. The firm has a market capitalization of $7.44 billion, a P/E ratio of -3.46, a P/E/G ratio of 1.05 and a beta of 1.05. The stock has a fifty day moving average price of $24.54 and a two-hundred day moving average price of $27.83. Sirius XM Holdings Inc. has a 52-week low of $20.47 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is -17.03%.

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.