Vise Technologies Inc. acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 79,365 shares of the company’s stock, valued at approximately $3,135,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares during the period. Root Financial Partners LLC increased its holdings in Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares during the period. Gables Capital Management Inc. bought a new position in Sirius XM during the 2nd quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in Sirius XM during the 2nd quarter valued at approximately $32,000. Finally, Rossby Financial LCC lifted its holdings in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the period. 10.69% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director owned 18,354 shares in the company, valued at $550,069.38. The trade was a 47.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.27% of the company’s stock.
Sirius XM Stock Up 1.1%
Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.
Sirius XM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is presently 43.20%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on SIRI. Guggenheim reiterated a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a research note on Tuesday, July 28th. Wells Fargo & Company increased their target price on Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Evercore set a $28.00 target price on Sirius XM in a research note on Friday, May 1st. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $30.92.
Get Our Latest Stock Report on SIRI
About Sirius XM
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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