Sirius XM Holdings Inc. $SIRI Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 88.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 30,296 shares of the company’s stock after selling 225,053 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sirius XM were worth $895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bridgewater Advisors Inc. purchased a new position in shares of Sirius XM in the 2nd quarter valued at about $248,000. Fifth Third Bancorp lifted its stake in shares of Sirius XM by 34.0% in the second quarter. Fifth Third Bancorp now owns 72,171 shares of the company’s stock valued at $2,132,000 after purchasing an additional 18,294 shares during the period. Principal Financial Group Inc. acquired a new position in Sirius XM during the second quarter worth about $12,642,000. Everstar Asset Management LLC increased its holdings in Sirius XM by 12.4% in the second quarter. Everstar Asset Management LLC now owns 48,113 shares of the company’s stock valued at $1,421,000 after buying an additional 5,323 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Sirius XM by 2.9% in the second quarter. Oppenheimer & Co. Inc. now owns 21,235 shares of the company’s stock valued at $627,000 after buying an additional 600 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target 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. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Morgan Stanley lifted their price objective on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. UBS Group set a $30.00 target price on Sirius XM in a research report on Wednesday, July 29th. Finally, Guggenheim reissued a “buy” rating and issued a $35.00 target price (up from $34.00) 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 issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.92.

Sirius XM Trading Up 1.7%

Shares of SIRI opened at $28.46 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. 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 $9.59 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The firm has a 50 day simple moving average of $29.47 and a 200-day simple moving average of $25.94.

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

Sirius XM Announces Dividend

The business 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 dividend of $0.27 per share. The ex-dividend date of this dividend 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 currently 43.20%.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’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 owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Company 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.