Bank of New York Mellon Corp boosted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 38.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,012,240 shares of the company's stock after purchasing an additional 834,479 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Sirius XM worth $88,982,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its holdings in Sirius XM by 158.5% in 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 period. Root Financial Partners LLC grew its holdings in Sirius XM by 612.8% in the first 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 during the last quarter. Rossby Financial LCC increased its holdings in Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company's stock valued at $32,000 after acquiring an additional 593 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Sirius XM in the first quarter worth $33,000. Finally, Altshuler Shaham Ltd raised its position in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company's stock valued at $36,000 after buying an additional 417 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on SIRI. Benchmark reissued a "buy" rating on shares of Sirius XM in a research report on Wednesday, July 29th. Rosenblatt Securities restated a "buy" rating and set a $45.00 price objective on shares of Sirius XM in a report on Tuesday, July 28th. UBS Group set a $30.00 price objective on Sirius XM in a report on Wednesday, July 29th. Barrington Research lifted their target price on Sirius XM from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on Sirius XM from $26.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.92.
View Our Latest Stock Analysis on SIRI
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 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 legal filing with the SEC, which is accessible through this link. Also, Director Jonelle Procope sold 16,672 shares of Sirius XM 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 transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.27% of the company's stock.
Sirius XM Stock Performance
SIRI opened at $28.45 on Tuesday. 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 business's 50 day moving average is $29.60 and its 200-day moving average is $26.33. The stock has a market cap of $9.59 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66.
Sirius XM (NASDAQ:SIRI - Get Free Report) last posted 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). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion during 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. The firm's revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.
Sirius XM Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM's dividend payout ratio is presently 43.20%.
Sirius XM Company Profile
(
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.
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