Deutsche Bank AG Invests $145.47 Million in Sirius XM Holdings Inc. $SIRI

Deutsche Bank AG acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,682,737 shares of the company’s stock, valued at approximately $145,468,000.

A number of other institutional investors also recently added to or reduced their stakes in SIRI. Brighton Jones LLC bought a new position in Sirius XM in the fourth quarter worth about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Sirius XM by 11.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock valued at $20,861,000 after buying an additional 92,111 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Sirius XM by 5.2% in the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Sirius XM in the 2nd quarter worth approximately $208,000. Institutional investors own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Evercore set a $28.00 price target on shares of Sirius XM in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Finally, Citigroup reiterated a “sell” rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $30.92.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $28.67 on Thursday. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66. The business’s 50 day moving average price is $29.54 and its 200 day moving average price is $26.16. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The firm has a market cap of $9.66 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio is presently 43.20%.

Insider Buying and Selling at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction 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 transaction, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction 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 transaction, the insider 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 disclosure for this sale is available in the SEC filing. Company insiders own 3.27% of the company’s stock.

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.