Northwestern Mutual Wealth Management Co. bought a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,533,011 shares of the company’s stock, valued at approximately $60,554,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of SIRI. Gables Capital Management Inc. purchased a new stake in Sirius XM in the second quarter worth $32,000. Global Retirement Partners LLC purchased a new stake in shares of Sirius XM during the second quarter valued at $32,000. Sunbelt Securities Inc. grew its holdings in shares of Sirius XM by 158.5% in 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 last quarter. Virtus Advisers LLC purchased a new position in Sirius XM in the 2nd quarter worth about $77,000. Finally, Root Financial Partners LLC lifted 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 buying an additional 1,195 shares in the last quarter. 10.69% of the stock is owned by institutional investors.
Analyst Ratings Changes
SIRI has been the subject of several research reports. Bank of America reissued an “underperform” rating on shares of Sirius XM in a research report on Friday, July 31st. Morgan Stanley boosted their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Citigroup restated a “sell” rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Finally, UBS Group set a $30.00 target price on Sirius XM in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.92.
Insider Buying and Selling at Sirius XM
In other news, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction 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 transaction, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. 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 firm’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 sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is currently owned by company insiders.
Sirius XM Trading Up 1.1%
NASDAQ SIRI opened at $28.69 on Friday. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The company’s 50-day simple moving average is $29.58 and its two-hundred day simple moving average is $26.23.
Sirius XM (NASDAQ:SIRI – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.Sirius XM’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. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.
Sirius XM Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is 43.20%.
Sirius XM 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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