Squarepoint Ops LLC Has $48.72 Million Holdings in Sirius XM Holdings Inc. $SIRI

Key Points

• Squarepoint Ops LLC increased its Sirius XM stake by 3,565.7% in the second quarter, acquiring 1.6 million additional shares for a total position valued at $48.72 million. Institutional investors collectively own 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, up 1% year over year and slightly above expectations, but earnings per share of $0.70 missed the $0.78 consensus estimate.
• The company maintains a quarterly dividend of $0.27, equivalent to a 3.7% yield, while analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $32.

Squarepoint Ops LLC lifted its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 3,565.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,649,327 shares of the company's stock after purchasing an additional 1,604,333 shares during the quarter. Squarepoint Ops LLC owned 0.49% of Sirius XM worth $48,721,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC raised its stake in shares of Sirius XM by 3.2% in the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company's stock worth $322,000 after purchasing an additional 340 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company's stock worth $36,000 after buying an additional 417 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Sirius XM by 33.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company's stock valued at $55,000 after buying an additional 463 shares during the last quarter. Geneos Wealth Management Inc. raised its position in 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 buying an additional 493 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company's stock valued at $291,000 after acquiring an additional 509 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Performance

Shares of SIRI opened at $28.80 on Wednesday. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $32.66. 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's fifty day moving average price is $29.72 and its two-hundred day moving average price is $26.90. The firm has a market cap of $9.71 billion, a PE ratio of 11.52, a PEG ratio of 0.52 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results 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 company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The company's revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Announces Dividend

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

Insiders Place Their Bets

In other 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 transaction of $499,659.84. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SIRI shares. BNP Paribas Exane lowered shares of Sirius XM to a "neutral" rating in a research report on Wednesday, September 2nd. TD Cowen lowered shares of Sirius XM to a "hold" rating in a research note on Wednesday, September 2nd. Rosenblatt Securities reissued a "buy" rating and set a $45.00 target price on shares of Sirius XM in a research report on Tuesday, July 28th. Scotiabank started coverage on Sirius XM in a research note on Wednesday, September 2nd. They issued an "outperform" rating on the stock. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Sirius XM in a report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.00.

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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