Lifetime Wealth Management P.C. Invests $7.23 Million in Sirius XM Holdings Inc. $SIRI

Lifetime Wealth Management P.C. purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 182,966 shares of the company’s stock, valued at approximately $7,227,000. Sirius XM comprises about 4.2% of Lifetime Wealth Management P.C.’s holdings, making the stock its 6th biggest position.

A number of other large investors also recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new stake in Sirius XM in the second quarter worth $25,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Sirius XM during the second quarter valued at $26,000. Sunbelt Securities Inc. boosted its stake in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares during the period. Root Financial Partners LLC grew its holdings in shares of Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of Sirius XM in the second quarter worth about $32,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Activity at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the business’s 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 of the company’s stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is owned by company insiders.

Sirius XM Stock Performance

NASDAQ SIRI opened at $28.50 on Friday. 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 company has a market cap of $9.61 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.62 and a beta of 0.95. The stock has a 50-day moving average of $29.64 and a two-hundred day moving average of $26.48. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66.

Sirius XM (NASDAQ:SIRI) last released 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). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates 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 was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were paid a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Sirius XM in a report on Friday, August 7th. Wells Fargo & Company upped their target price on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. UBS Group set a $30.00 price target on shares of Sirius XM in a research report on Wednesday, July 29th. Finally, Barrington Research lifted their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four equities research 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.