Sprinkle Financial Consultants LLC purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,524 shares of the company’s stock, valued at approximately $961,000.
A number of other large investors have also recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new stake in shares of Sirius XM in the 1st quarter valued at $1,243,000. Aspen Grove Capital LLC acquired a new stake in shares of Sirius XM during the 1st quarter worth about $2,277,000. Brighton Jones LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth about $622,000. Dimensional Fund Advisors LP lifted its holdings in Sirius XM by 262.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after purchasing an additional 4,560,821 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Sirius XM by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,177,761 shares of the company’s stock valued at $50,263,000 after purchasing an additional 157,860 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Sirius XM
In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the transaction, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.27% of the company’s stock.
Sirius XM Stock Up 0.1%
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.
Sirius XM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is presently 43.20%.
Wall Street Analysts Forecast Growth
SIRI has been the topic of several research analyst reports. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Bank of America reissued an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Citigroup restated a “sell” rating and set a $25.00 price target (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their price target on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $30.92.
Get Our Latest Research Report on Sirius XM
Sirius XM Company Profile
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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