53,858 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP acquired 53,858 Sirius XM shares during the first quarter, valued at approximately $1.24 million. Other major investors, including Dimensional Fund Advisors and AQR Capital Management, also significantly increased their holdings.
• Sirius XM shares were trading at $31.22, near their 12-month high, after the company exceeded quarterly earnings and revenue expectations. Revenue rose 1.1% year over year, while EPS reached $0.72 versus the $0.70 consensus estimate.
• The company announced a quarterly dividend of $0.27 per share, equivalent to a 3.5% annualized yield. Analysts remain broadly neutral, with a consensus “Hold” rating and an average price target of $29.09.

Entropy Technologies LP acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 53,858 shares of the company's stock, valued at approximately $1,243,000.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Sirius XM by 262.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company's stock worth $145,426,000 after purchasing an additional 4,560,821 shares during the period. AQR Capital Management LLC grew its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock valued at $117,327,000 after buying an additional 3,233,922 shares during the period. Norges Bank bought a new stake in shares of Sirius XM in the 4th quarter valued at $57,124,000. Hsbc Holdings PLC increased its position in shares of Sirius XM by 858.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company's stock valued at $41,726,000 after buying an additional 1,859,872 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Sirius XM during the 4th quarter worth $34,548,000. Institutional investors own 10.69% of the company's stock.

Insider Activity

In related news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.27% of the company's stock.

Sirius XM Trading Up 4.8%

SIRI opened at $31.22 on Tuesday. The stock has a market capitalization of $10.51 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.64 and a beta of 0.95. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $31.49. The firm's fifty day simple moving average is $29.08 and its 200 day simple moving average is $25.08. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.During the same quarter in the prior year, the company earned $0.59 EPS. The company's revenue was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that Sirius XM Holdings Inc. will post 3.1 EPS 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. Stockholders 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM's dividend payout ratio is currently 45.57%.

Analysts Set New Price Targets

SIRI has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on Sirius XM from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Citigroup reaffirmed a "sell" rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Barrington Research lifted their price objective on Sirius XM from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $29.09.

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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