Toronto Dominion Bank Sells 66,500 Shares of Sirius XM Holdings Inc (NASDAQ:SIRI)

Toronto Dominion Bank lessened its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 20.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,074 shares of the company’s stock after selling 66,500 shares during the quarter. Toronto Dominion Bank’s holdings in Sirius XM were worth $1,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in Sirius XM by 533.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 5,393 shares of the company’s stock worth $30,000 after buying an additional 4,541 shares during the last quarter. Coastal Capital Group Inc. bought a new stake in Sirius XM in the 2nd quarter worth approximately $32,000. Westside Investment Management Inc. bought a new stake in Sirius XM in the 2nd quarter worth approximately $37,000. Manchester Financial Inc. bought a new stake in Sirius XM in the 2nd quarter worth approximately $38,000. Finally, NEXT Financial Group Inc lifted its position in Sirius XM by 2,942.0% in the 2nd quarter. NEXT Financial Group Inc now owns 9,126 shares of the company’s stock worth $51,000 after buying an additional 8,826 shares during the last quarter. Hedge funds and other institutional investors own 18.91% of the company’s stock.

SIRI stock traded down $0.12 during midday trading on Wednesday, hitting $6.35. The company had a trading volume of 700,396 shares, compared to its average volume of 16,554,968. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 46.63. Sirius XM Holdings Inc has a 52 week low of $5.23 and a 52 week high of $7.14. The stock’s 50 day moving average price is $6.18 and its 200 day moving average price is $5.90. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.55 and a beta of 1.02.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Sirius XM had a negative return on equity of 117.72% and a net margin of 15.25%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 38.1% on a year-over-year basis. Analysts predict that Sirius XM Holdings Inc will post 0.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 9th were given a $0.0121 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.05 annualized dividend and a yield of 0.76%. Sirius XM’s payout ratio is currently 19.23%.

In other news, VP Thomas D. Barry sold 164,715 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.99, for a total transaction of $986,642.85. Following the transaction, the vice president now directly owns 265,735 shares of the company’s stock, valued at $1,591,752.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer C. Witz sold 504,830 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total value of $3,039,076.60. Following the transaction, the insider now directly owns 913,904 shares in the company, valued at $5,501,702.08. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

A number of research firms recently weighed in on SIRI. ValuEngine upgraded Sirius XM from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. BidaskClub upgraded Sirius XM from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 19th. Pivotal Research restated a “buy” rating and issued a $7.70 target price on shares of Sirius XM in a research report on Friday, August 9th. Finally, Credit Suisse Group upgraded Sirius XM from a “neutral” rating to an “outperform” rating and set a $7.00 target price for the company in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $7.37.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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