Public Employees Retirement System of Ohio Acquires New Holdings in Sirius XM Holdings Inc. $SIRI

Public Employees Retirement System of Ohio bought 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 disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,488 shares of the company's stock, valued at approximately $1,491,000.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its stake 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 valued at $30,000 after acquiring an additional 794 shares during the period. Root Financial Partners LLC boosted its position in shares of Sirius XM by 612.8% during the 1st 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 during the period. Global Retirement Partners LLC acquired a new stake in Sirius XM in the 2nd quarter valued at approximately $32,000. Rossby Financial LCC increased its holdings in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company's stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in Sirius XM in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Price Performance

Sirius XM stock opened at $28.99 on Tuesday. 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 firm has a market cap of $9.77 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.52 and a beta of 0.95. The company's 50 day moving average is $29.73 and its two-hundred day moving average is $26.85.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm earned $0.57 EPS. The business's revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Sirius XM Holdings Inc. will post 3 EPS for the current fiscal year.

Sirius XM Dividend Announcement

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

Insider Buying and Selling

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the 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 sale, the director owned 18,354 shares of the company's stock, valued at $550,069.38. This trade represents a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on SIRI shares. Scotiabank initiated coverage on Sirius XM in a research note on Wednesday, September 2nd. They set an "outperform" rating on the stock. JPMorgan Chase & Co. boosted their price objective on Sirius XM from $26.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Rosenblatt Securities reissued a "buy" rating and set a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Bank of America reissued an "underperform" rating on shares of Sirius XM in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Sirius XM presently has an average rating of "Hold" and an average target price of $32.00.

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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