Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 176,848 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 176,848 shares of the company’s stock, valued at approximately $4,032,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Sirius XM at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in Sirius XM by 4.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock worth $339,000 after buying an additional 630 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Sirius XM by 4.3% during the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock worth $358,000 after buying an additional 643 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Sirius XM by 5.9% during the 4th quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company’s stock worth $325,000 after buying an additional 791 shares during the last quarter. Mill Creek Capital Advisors LLC grew its stake in Sirius XM by 5.8% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 15,273 shares of the company’s stock worth $348,000 after buying an additional 837 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Sirius XM by 574.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock worth $31,000 after buying an additional 1,144 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of research reports. Barrington Research set a $28.00 price target on Sirius XM in a research note on Friday, January 31st. Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley lowered their target price on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim lowered their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, December 19th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.81.

Sirius XM Stock Up 3.8 %

SIRI opened at $22.67 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day simple moving average of $23.66 and a 200-day simple moving average of $24.97. The stock has a market capitalization of $7.68 billion, a P/E ratio of -3.54, a P/E/G ratio of 0.79 and a beta of 1.06. Sirius XM Holdings Inc. has a 12 month low of $20.47 and a 12 month high of $41.60.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. On average, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 annualized dividend and a yield of 4.76%. Sirius XM’s dividend payout ratio is presently -16.85%.

About Sirius XM

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.