Vise Technologies Inc. Purchases Shares of 79,365 Sirius XM Holdings Inc. $SIRI

Key Points

• Vise Technologies bought 79,365 Sirius XM shares in the second quarter, valued at approximately $3.14 million. Other major institutions, including BlackRock, Dimensional Fund Advisors and AQR Capital Management, also increased their positions, while institutional investors collectively own 10.69% of the stock.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above expectations, but earnings per share of $0.70 fell short of the $0.78 consensus estimate. Revenue increased 1% year over year, and analysts expect full-year EPS of $3.01.
• The company declared a quarterly dividend of $0.27, equivalent to an annualized $1.08 payout and a 3.8% yield. Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $30.92.

Vise Technologies Inc. purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 79,365 shares of the company's stock, valued at approximately $3,135,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its stake in Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock valued at $519,970,000 after purchasing an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company's stock worth $145,426,000 after buying an additional 4,560,821 shares in the last quarter. Deutsche Bank AG purchased a new position in Sirius XM in the 2nd quarter worth approximately $145,468,000. AQR Capital Management LLC increased its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock worth $117,327,000 after buying an additional 3,233,922 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Sirius XM in the 4th quarter worth $57,124,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $28.69 on Friday. 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 52-week low of $19.76 and a 52-week high of $32.66. The company has a fifty day moving average of $29.58 and a 200-day moving average of $26.23. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.08). The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.Sirius XM's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. Equities research analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM's payout ratio is currently 43.20%.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the firm's 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 transaction, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was 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. The trade was a 47.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SIRI shares. Bank of America reaffirmed an "underperform" rating on shares of Sirius XM in a report on Friday, July 31st. Rosenblatt Securities reissued a "buy" rating and issued a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Citigroup reaffirmed a "sell" rating and set a $25.00 price target (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Finally, Morgan Stanley upped their price objective on Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.92.

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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