124,330 Shares in Sirius XM Holdings Inc. $SIRI Bought by PDT Partners LLC

Key Points

• PDT Partners LLC bought 124,330 Sirius XM shares during the second quarter, valued at approximately $4.9 million. Institutional investors collectively own 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above estimates, but its $0.70 EPS missed the $0.78 consensus forecast. The stock opened at $28.73, while analysts maintain a consensus “Hold” rating with an average $30.92 price target.
• The company declared a quarterly dividend of $0.27 per share, equivalent to a $1.08 annualized payout and a 3.8% yield. Separately, Director Jonelle Procope sold 16,672 shares for roughly $500,000.

PDT Partners 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 filing with the Securities & Exchange Commission. The fund purchased 124,330 shares of the company's stock, valued at approximately $4,911,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in shares of Sirius XM during the 2nd quarter valued at about $25,000. Aberdeen Wealth Management LLC purchased a new stake in Sirius XM in the second quarter worth about $26,000. Sunbelt Securities Inc. boosted its position in Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company's stock valued at $30,000 after acquiring an additional 794 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company's stock worth $32,000 after acquiring an additional 1,195 shares during the period. Finally, Gables Capital Management Inc. bought a new position in shares of Sirius XM in the 2nd quarter worth approximately $32,000. 10.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jonelle Procope sold 16,672 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were 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 in the company, valued at $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.27% of the stock is currently owned by insiders.

Sirius XM Trading Up 1.0%

Sirius XM stock opened at $28.73 on Wednesday. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The business's fifty day simple moving average is $29.62 and its two-hundred day simple moving average is $26.39. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 9.37% and a net margin of 10.23%.The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. As a group, equities analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given 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 dividend payout ratio (DPR) is 43.20%.

Analysts Set New Price Targets

A number of research firms have issued reports on SIRI. The Goldman Sachs Group reiterated a "neutral" rating and issued a $32.00 price objective on shares of Sirius XM in a report on Friday, August 7th. Evercore set a $28.00 target price on shares of Sirius XM in a report on Friday, May 1st. UBS Group set a $30.00 target price on shares of Sirius XM in a research report on Wednesday, July 29th. Bank of America reiterated an "underperform" rating on shares of Sirius XM in a research note on Friday, July 31st. Finally, Benchmark reissued a "buy" rating on shares of Sirius XM in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of "Hold" and an average price target of $30.92.

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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