Cadence Bank Invests $8.89 Million in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cadence Bank acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 389,964 shares of the company’s stock, valued at approximately $8,891,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA acquired a new position in shares of Sirius XM in the fourth quarter worth $26,000. First Command Advisory Services Inc. purchased a new position in Sirius XM in the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. raised its stake in shares of 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 purchasing an additional 1,144 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Sirius XM during the 4th quarter valued at about $43,000. Finally, Avior Wealth Management LLC increased its holdings in Sirius XM by 670.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,080 shares of the company’s stock worth $47,000 after buying an additional 1,810 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Up 1.1 %

SIRI stock opened at $20.31 on Friday. The business’s 50-day simple moving average is $23.08 and its 200 day simple moving average is $24.11. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The company has a market cap of $6.88 billion, a PE ratio of -3.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 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, research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Friday, May 9th. Sirius XM’s payout ratio is -16.85%.

Wall Street Analyst Weigh In

Several research firms have commented on SIRI. Wells Fargo & Company decreased 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 report on Thursday, December 19th. Barrington Research set a $28.00 target price on shares of Sirius XM in a research report on Friday, January 31st. Rosenblatt Securities reduced their price target on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.81.

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.