Connor Clark & Lunn Investment Management Ltd. Invests $4.03 Million in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 176,848 shares of the company’s stock, valued at approximately $4,032,000.

A number of other institutional investors also recently made changes to their positions in SIRI. State of New Jersey Common Pension Fund D acquired a new position in shares of Sirius XM in the third quarter worth $1,707,000. ING Groep NV acquired a new position in shares of Sirius XM in the third quarter worth $2,496,000. Natixis Advisors LLC acquired a new position in shares of Sirius XM in the third quarter worth $1,029,000. Seizert Capital Partners LLC acquired a new position in shares of Sirius XM in the third quarter worth $46,173,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Sirius XM in the third quarter valued at $1,637,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Price Performance

Shares of NASDAQ 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. Sirius XM Holdings Inc. has a 1-year low of $20.47 and a 1-year high of $41.60. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -3.54, a PEG ratio of 0.79 and a beta of 1.06. The business has a 50-day moving average of $23.66 and a 200-day moving average of $24.97.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were paid a $0.27 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.76%. Sirius XM’s dividend payout ratio (DPR) is currently -16.85%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Barrington Research set a $28.00 price objective on Sirius XM in a research report on Friday, January 31st. Rosenblatt Securities lowered their price objective 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. Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a sell rating, five have assigned 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 $26.81.

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.