GQG Partners LLC Purchases New Stake in Sirius XM Holdings Inc. $SIRI

Key Points

• GQG Partners acquired 274,860 Sirius XM shares worth approximately $10.9 million, while other major institutions including BlackRock, Dimensional Fund Advisors and AQR Capital also increased their positions. Institutional investors collectively own 10.69% of the company.
• Sirius XM’s analyst consensus remains “Hold”, with a $30.92 average price target; ratings include four Buys, five Holds and three Sells.
• The company reported quarterly revenue of $2.16 billion, up 1% year over year, but earnings per share of $0.70 missed estimates. Sirius XM also declared a quarterly dividend of $0.27, representing a 3.8% annualized yield.

GQG Partners LLC bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 274,860 shares of the company's stock, valued at approximately $10,868,000. GQG Partners LLC owned about 0.08% of Sirius XM as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Sirius XM by 82.9% in the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock valued at $519,970,000 after purchasing an additional 7,977,045 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sirius XM by 262.1% during the 1st 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 last quarter. AQR Capital Management LLC increased 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 acquiring an additional 3,233,922 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $145,468,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $143,695,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares of the company's stock, valued at $550,069.38. This represents a 47.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 $601,462.29. This represents a 50.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SIRI has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $32.00 price objective on shares of Sirius XM in a research report on Friday, August 7th. Wells Fargo & Company upped their target price on shares of Sirius XM from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Barrington Research upped their price target on Sirius XM from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Evercore set a $28.00 target price on shares of Sirius XM in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.92.

Sirius XM Trading Up 1.1%

NASDAQ SIRI opened at $28.69 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The firm's fifty day moving average price is $29.58 and its 200 day moving average price is $26.23. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth 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.

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). 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 for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. Sirius XM's revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

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

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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