Allianz Asset Management GmbH Purchases 98,118 Shares of Sirius XM Holdings Inc. $SIRI

Allianz Asset Management GmbH raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 907,187 shares of the company's stock after purchasing an additional 98,118 shares during the quarter. Allianz Asset Management GmbH owned 0.27% of Sirius XM worth $26,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Corient Private Wealth LP raised its holdings in shares of Sirius XM by 31.0% in the 2nd quarter. Corient Private Wealth LP now owns 46,819 shares of the company's stock valued at $1,383,000 after purchasing an additional 11,082 shares in the last quarter. Amundi boosted its holdings in shares of Sirius XM by 18.6% in the 2nd quarter. Amundi now owns 31,713 shares of the company's stock valued at $937,000 after buying an additional 4,977 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Sirius XM during the 2nd quarter worth approximately $1,037,000. California State Teachers Retirement System boosted its stake in Sirius XM by 2,798.6% in the second quarter. California State Teachers Retirement System now owns 6,286,910 shares of the company's stock valued at $185,715,000 after acquiring an additional 6,070,016 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Sirius XM by 10.1% in the 2nd quarter. HB Wealth Management LLC now owns 11,304 shares of the company's stock worth $334,000 after purchasing an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $28.99 on Tuesday. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $32.66. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The business's 50 day moving average is $29.73 and its two-hundred day moving average is $26.85. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.52 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its 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). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last 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. Research analysts predict that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 3.7%. Sirius XM's payout ratio is currently 43.20%.

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent analyst reports. Benchmark restated a "buy" rating on shares of Sirius XM in a report on Wednesday, July 29th. Cantor Fitzgerald started coverage on Sirius XM in a report on Wednesday, September 2nd. They issued an "overweight" rating for the company. Morgan Stanley increased their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. UBS Group set a $30.00 price target on Sirius XM in a research note on Wednesday, July 29th. Finally, Citigroup reiterated a "sell" rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of "Hold" and an average target price of $32.00.

Insiders Place Their Bets

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.27% of the company's stock.

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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