Deutsche Bank AG Takes Position in Sirius XM Holdings Inc. $SIRI

Key Points

• Deutsche Bank purchased 3.68 million Sirius XM shares worth approximately $145.5 million, acquiring a 1.09% stake during the second quarter. Other institutional investors also added positions, bringing institutional ownership to 10.69%.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above expectations, but earnings of $0.70 per share fell short of the $0.78 consensus estimate. The company declared a quarterly dividend of $0.27 per share, representing a 3.8% annualized yield.
• Analyst sentiment remains mixed, with four Buy, five Hold and three Sell ratings; the consensus rating is Hold with a $30.92 price target. Shares recently opened at $28.67, while two insiders disclosed significant stock sales.

Deutsche Bank AG purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,682,737 shares of the company's stock, valued at approximately $145,468,000. Deutsche Bank AG owned 1.09% of Sirius XM as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SIRI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Sirius XM by 33.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company's stock valued at $55,000 after acquiring an additional 463 shares during the period. Persistent Asset Partners Ltd bought a new position in Sirius XM in the 2nd quarter valued at $54,000. OneDigital Investment Advisors LLC purchased a new stake in Sirius XM in the second quarter worth $391,000. Old West Investment Management LLC purchased a new stake in Sirius XM in the second quarter worth $22,000,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Sirius XM during the second quarter worth $32,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Price Performance

Shares of SIRI stock opened at $28.67 on Thursday. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve 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. The stock has a fifty day simple moving average of $29.54 and a two-hundred day simple moving average of $26.16. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly 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). The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. On average, analysts predict that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SIRI shares. Benchmark reissued a "buy" rating on shares of Sirius XM in a research note on Wednesday, July 29th. Citigroup reaffirmed a "sell" rating and issued a $25.00 price target (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Evercore set a $28.00 price objective on shares of Sirius XM in a report on Friday, May 1st. UBS Group set a $30.00 price objective on shares of Sirius XM in a research report on Wednesday, July 29th. Finally, Guggenheim restated a "buy" rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $30.92.

Insider Transactions at Sirius XM

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 completion of the sale, the insider owned 20,163 shares of the company's stock, valued at approximately $601,462.29. This represents a 50.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.27% of the company's stock.

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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