1,007,197 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Korea Investment CORP

Korea Investment CORP acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, HoldingsChannel reports. The firm acquired 1,007,197 shares of the company’s stock, valued at approximately $39,841,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC lifted its position in shares of Sirius XM by 3.2% during the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after purchasing an additional 340 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Sirius XM by 33.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock worth $55,000 after buying an additional 463 shares during the period. Geneos Wealth Management Inc. increased its stake in 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 period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after buying an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SIRI shares. Bank of America restated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. 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 note on Friday, July 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, Guggenheim restated a “buy” rating and set a $35.00 price objective (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 company. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $30.92.

Sirius XM Stock Up 1.1%

Shares of Sirius XM stock opened at $28.69 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 firm’s 50-day moving average is $29.58 and its two-hundred day moving average is $26.23. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 11.48, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. Sirius XM’s payout ratio is 43.20%.

Insider Buying and Selling

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The stock was 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. This trade represents a 47.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.