486,326 Shares in Sirius XM Holdings Inc. $SIRI Purchased by Panview Capital Ltd

Key Points

• Panview Capital acquired 486,326 Sirius XM shares worth approximately $19.2 million, making the stock 3.4% of its portfolio and giving it a 0.14% stake. Other institutional investors also increased their holdings, though institutions collectively owned 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly ahead of estimates, but earnings per share of $0.70 fell short of the $0.78 consensus. Revenue increased 1% year over year.
• The company declared a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 payout and a 3.8% yield. Analysts maintain an average “Hold” rating with a consensus price target of $30.92, while insiders recently sold shares.

Panview Capital Ltd acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 486,326 shares of the company's stock, valued at approximately $19,210,000. Sirius XM accounts for 3.4% of Panview Capital Ltd's holdings, making the stock its 12th largest holding. Panview Capital Ltd owned 0.14% of Sirius XM at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Sirius XM by 82.9% during the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock worth $519,970,000 after acquiring an additional 7,977,045 shares during the period. Bank of Nova Scotia purchased a new position in shares of Sirius XM in the 2nd quarter valued at approximately $387,690,000. Dimensional Fund Advisors LP boosted its position in shares of Sirius XM by 262.1% during the first 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock valued at $117,327,000 after purchasing an additional 3,233,922 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sirius XM in the second quarter worth $180,538,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.69 on Monday. The stock has a fifty day simple moving average of $29.58 and a two-hundred day simple moving average of $26.28. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a PEG 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.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released 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). 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 during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $0.57 earnings per share. The company's revenue was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed 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. 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 is 43.20%.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark reiterated a "buy" rating on shares of Sirius XM in a report on Wednesday, July 29th. Weiss Ratings raised shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Wells Fargo & Company lifted their price target on shares of Sirius XM from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $30.92.

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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