Quantbot Technologies LP Acquires New Holdings in Sirius XM Holdings Inc. $SIRI

Quantbot Technologies LP bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 236,761 shares of the company’s stock, valued at approximately $9,352,000. Quantbot Technologies LP owned approximately 0.07% of Sirius XM as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Westpac Banking Corp bought a new position in shares of Sirius XM during the second quarter worth $178,000. William Blair Investment Management LLC bought a new stake in shares of Sirius XM in the 2nd quarter valued at $143,695,000. Korea Investment CORP acquired a new stake in Sirius XM during the 2nd quarter worth $39,841,000. EP Wealth Advisors LLC acquired a new stake in Sirius XM during the 2nd quarter worth $539,000. Finally, Ieq Capital LLC bought a new position in Sirius XM during the second quarter worth about $2,127,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’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 transaction of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The sale 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 Sirius XM stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the sale, the director owned 18,354 shares in the company, valued at $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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SIRI. Barrington Research boosted 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. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. UBS Group set a $30.00 price objective on Sirius XM in a research report on Wednesday, July 29th. Guggenheim reissued a “buy” rating and set a $35.00 target price (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.92.

Sirius XM Price Performance

SIRI stock opened at $28.69 on Friday. The stock has a 50-day moving average price of $29.58 and a two-hundred day moving average price of $26.23. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $32.66. The stock has a market cap of $9.67 billion, a PE ratio of 11.48, a price-to-earnings-growth 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 (NASDAQ:SIRI) last issued its quarterly 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s payout ratio is presently 43.20%.

Sirius XM Profile

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.