Ieq Capital LLC Buys Shares of 53,847 Sirius XM Holdings Inc. $SIRI

Key Points

• Ieq Capital purchased 53,847 Sirius XM shares during the second quarter, valued at approximately $2.13 million. Institutional investors and hedge funds collectively own 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above expectations, but earnings of $0.70 per share missed the $0.78 consensus estimate. The company declared a quarterly dividend of $0.27 per share, representing a 3.8% annualized yield.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and a $30.92 price target; ratings include four Buys, five Holds and three Sells. Director Jonelle Procope also sold 16,672 shares at an average price of $29.97.

Ieq Capital LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,847 shares of the company's stock, valued at approximately $2,127,000.

A number of other institutional investors also recently made changes to their positions in SIRI. Sunbelt Securities Inc. boosted its stake in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company's stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company's stock valued at $32,000 after purchasing an additional 1,195 shares in the last quarter. Gables Capital Management Inc. purchased a new position in shares of Sirius XM during the second quarter valued at approximately $32,000. Global Retirement Partners LLC acquired a new stake in Sirius XM during the second quarter worth approximately $32,000. Finally, Rossby Financial LCC grew its stake in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company's stock worth $32,000 after acquiring an additional 593 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Trading Up 1.0%

Shares of SIRI opened at $28.73 on Wednesday. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66. The stock's 50-day moving average is $29.62 and its two-hundred day moving average is $26.39. 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 stock has a market cap of $9.68 billion, a PE ratio of 11.49, a P/E/G ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its 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 company 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SIRI shares. UBS Group set a $30.00 price target on Sirius XM in a research note on Wednesday, July 29th. Bank of America reiterated an "underperform" rating on shares of Sirius XM in a research note on Friday, July 31st. Citigroup reaffirmed a "sell" rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Evercore set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 1st. Finally, Wells Fargo & Company increased their price target 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. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sirius XM currently has an average rating of "Hold" and an average target price of $30.92.

Insider Activity at Sirius XM

In other news, Director Jonelle Procope sold 16,672 shares of the company's stock in a transaction on 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 in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.27% of the company's stock.

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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