Squarepoint Ops LLC Purchases 1,604,333 Shares of Sirius XM Holdings Inc. $SIRI

Squarepoint Ops LLC increased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 3,565.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,649,327 shares of the company’s stock after purchasing an additional 1,604,333 shares during the quarter. Squarepoint Ops LLC’s holdings in Sirius XM were worth $48,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SIRI. Sunbelt Securities Inc. grew its position in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after buying an additional 794 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after acquiring an additional 1,195 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Sirius XM in the second quarter valued at $32,000. Rossby Financial LCC increased its position in Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Finally, Western Wealth Management LLC purchased a new position in Sirius XM during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Jonelle Procope sold 16,672 shares of the company’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 $550,069.38. This represents a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SIRI. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. William Blair raised Sirius XM to a “market perform” rating in a research report on Wednesday, September 2nd. Wells Fargo & Company upgraded Sirius XM from an “underweight” rating to an “overweight” rating in a report on Wednesday, September 2nd. BNP Paribas Exane lowered Sirius XM to a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Citigroup restated a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.00.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.80 on Wednesday. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. 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 business has a fifty day moving average price of $29.72 and a 200-day moving average price of $26.90. The company has a market capitalization of $9.71 billion, a PE ratio of 11.52, a PEG ratio of 0.52 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 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Sirius XM Holdings Inc. will post 3 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, August 10th. Sirius XM’s dividend payout ratio is 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.