Beacon Pointe Advisors LLC Buys Shares of 74,488 Sirius XM Holdings Inc. $SIRI

Key Points

• Beacon Pointe Advisors initiated a Sirius XM position by purchasing 74,488 shares valued at approximately $2.94 million. Institutional investors and hedge funds collectively own 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above estimates, but earnings per share of $0.70 missed the $0.78 consensus forecast. The company maintained a quarterly dividend of $0.27 per share, representing a 3.8% annualized yield.
• Analysts remain divided, with ratings spanning Buy, Hold and Sell; the overall consensus is Hold with an average price target of $30.92, compared with the stock’s reported price of $28.54.

Beacon Pointe Advisors LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 74,488 shares of the company's stock, valued at approximately $2,942,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in Sirius XM in the second quarter valued at about $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $26,000. Sunbelt Securities Inc. lifted its holdings in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company's stock worth $30,000 after acquiring an additional 794 shares during the last quarter. Root Financial Partners LLC lifted its stake in Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company's stock worth $32,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in Sirius XM during the second quarter worth $32,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Stock Up 0.1%

Shares of Sirius XM stock opened at $28.54 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $32.66. The company has a market capitalization of $9.62 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.62 and a beta of 0.95. The company has a 50 day moving average of $29.65 and a 200 day moving average of $26.49.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share 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 analyst estimates of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. Sirius XM's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, August 10th. Sirius XM's payout ratio is 43.20%.

Insider Activity

In other news, Director Jonelle Procope sold 16,672 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction 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 represents a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.27% of the company's stock.

Key Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM is adding former LSU football coach Brian Kelly to a weekly show with Danny Kanell and Roy Philpott. The move expands the company’s sports programming and could help attract college-football listeners and advertising revenue. Brian Kelly joins SiriusXM for weekly show
• Neutral Sentiment: Director Anjali Sud reportedly acquired 60 Sirius XM shares through a dividend-related restricted stock unit credit. Because the shares were received through an equity compensation process rather than a large open-market purchase, the transaction offers limited insight into management’s valuation view. Anjali Sud share acquisition
• Negative Sentiment: SiriusXM is reportedly dropping Howard Stern’s Channel 101 after layoffs affecting roughly a dozen staffers. The decision may reduce programming costs, but it also highlights disruption around one of the company’s highest-profile personalities and could weigh on subscriber engagement, content visibility and investor confidence. Howard Stern’s SiriusXM 101 channel dropped
• Negative Sentiment: Reports that Stern’s channel was removed following broader layoffs add to concerns about SiriusXM’s content strategy and its relationship with marquee talent. The impact could be partly offset if the replacement programming improves listening, but that benefit remains unproven. Howard Stern channel replacement announced

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SIRI. JPMorgan Chase & Co. lifted their price objective on Sirius XM from $26.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings raised Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Citigroup reissued a "sell" rating and set a $25.00 price target (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Benchmark reissued a "buy" rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, UBS Group set a $30.00 target price on shares of Sirius XM in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Sirius XM presently has a consensus 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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