Solstein Capital LLC Takes Position in Sirius XM Holdings Inc. $SIRI

Solstein Capital LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 44,060 shares of the company's stock, valued at approximately $1,742,000.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company's stock worth $30,000 after buying an additional 794 shares during the last quarter. Root Financial Partners LLC grew its position in shares of Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company's stock worth $32,000 after acquiring an additional 1,195 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $32,000. Finally, Rossby Financial LCC raised its position in shares of 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. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 20,163 shares of the company's stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director 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 SEC filing for this sale provides additional information. Insiders own 3.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reaffirmed a "sell" rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Wells Fargo & Company raised 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 report on Friday, July 31st. Bank of America reaffirmed an "underperform" rating on shares of Sirius XM in a research report on Friday, July 31st. Barrington Research increased their price objective 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. Finally, Rosenblatt Securities restated a "buy" rating and issued a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Four investment 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $30.92.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.69 on Monday. The firm's 50 day moving average is $29.58 and its two-hundred day moving average is $26.28. The firm has a market capitalization of $9.67 billion, a P/E ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. The company has a current ratio of 0.46, a quick 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.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (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 for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business's quarterly revenue was up 1.0% on a year-over-year basis. Analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM's payout ratio is 43.20%.

About Sirius XM

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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