Deutsche Bank AG increased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 1,459.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 660,839 shares of the company's stock after purchasing an additional 618,471 shares during the period. Deutsche Bank AG owned 0.20% of Sirius XM worth $19,521,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Sirius XM in the fourth quarter valued at approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company's stock worth $20,861,000 after acquiring an additional 92,111 shares during the last quarter. Focus Partners Wealth grew its position in shares of Sirius XM by 5.2% during the first quarter. Focus Partners Wealth now owns 16,273 shares of the company's stock worth $367,000 after acquiring an additional 800 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock valued at $41,000 after acquiring an additional 493 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of Sirius XM in the 2nd quarter valued at $208,000. 10.69% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SIRI has been the subject of a number of recent research reports. Barrington Research increased their price target on shares of Sirius XM from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Guggenheim reaffirmed a "buy" rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Rosenblatt Securities reiterated a "buy" rating and set a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Finally, Morgan Stanley raised their price target on Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.92.
Check Out Our Latest Stock Report on Sirius XM
Insider Buying and Selling
In other news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider directly 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the firm's stock in a transaction that occurred 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 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 ownership of the stock. The SEC filing for this sale provides additional information. 3.27% of the stock is currently owned by insiders.
Sirius XM Stock Performance
Shares of SIRI opened at $28.69 on Friday. The stock has a market capitalization of $9.67 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $32.66. The company's fifty day moving average is $29.58 and its two-hundred day moving average is $26.23.
Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the firm earned $0.57 EPS. The firm's revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.
Sirius XM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM's payout ratio is currently 43.20%.
About Sirius XM
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Sirius XM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sirius XM wasn't on the list.
While Sirius XM currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
