Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Sirius XM Holdings Inc. $SIRI

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 88.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,296 shares of the company’s stock after selling 225,053 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sirius XM were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunbelt Securities Inc. increased its position 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 worth $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Sirius XM in the 1st quarter valued at about $33,000. Altshuler Shaham Ltd boosted its position in shares of Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after purchasing an additional 417 shares during the period. Finally, Rossby Financial LCC grew its stake in Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Trading Up 1.7%

NASDAQ:SIRI opened at $28.46 on Friday. The firm has a market cap of $9.59 billion, a P/E ratio of 11.38, a PEG 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. The stock’s 50 day simple moving average is $29.47 and its 200-day simple moving average is $25.94. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.57 earnings per share. Equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently announced 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 of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s payout ratio is presently 43.20%.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction dated 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 represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonelle Procope sold 16,672 shares of the firm’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 completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

SIRI has been the topic of several research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. Citigroup reissued a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Benchmark restated a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Barrington Research lifted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.