Osmosis Investment Management UK Ltd acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,931 shares of the company’s stock, valued at approximately $1,223,000.
Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of Sirius XM during the second quarter worth approximately $387,690,000. BlackRock Inc. boosted its stake in Sirius XM by 82.9% during the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock valued at $519,970,000 after acquiring an additional 7,977,045 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Sirius XM during the 2nd quarter valued at $180,538,000. Dimensional Fund Advisors LP grew 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 worth $145,426,000 after acquiring an additional 4,560,821 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in Sirius XM during the 2nd quarter worth $145,468,000. 10.69% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SIRI has been the topic of a number of recent analyst reports. Guggenheim restated a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Morgan Stanley lifted their price target on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price objective on shares of Sirius XM in a research note on Friday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 target price on shares of Sirius XM in a report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.92.
Sirius XM Trading Down 0.8%
Shares of NASDAQ SIRI opened at $28.45 on Tuesday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $29.60 and its 200 day simple moving average is $26.33.
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. Sirius XM’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.
Sirius XM Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s payout ratio is 43.20%.
Insider Activity
In other news, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. The SEC filing for this sale provides additional information. 3.27% of the stock is currently owned by corporate insiders.
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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