Quantbot Technologies LP Makes New Investment in Sirius XM Holdings Inc. $SIRI

Quantbot Technologies LP acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 236,761 shares of the company’s stock, valued at approximately $9,352,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. raised its position in 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 acquiring an additional 794 shares in the last quarter. Root Financial Partners LLC grew its position 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 acquiring an additional 1,195 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Sirius XM during the 2nd quarter worth about $32,000. Global Retirement Partners LLC bought a new stake in shares of Sirius XM in the 2nd quarter valued at about $32,000. Finally, Rossby Financial LCC raised its holdings in shares of Sirius XM by 57.7% in 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. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $28.69 on Friday. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company’s 50 day moving average price is $29.58 and its two-hundred day moving average price is $26.23. The firm has a market cap of $9.67 billion, a PE ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. Sirius XM’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities research analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

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

Insiders Place Their Bets

In other news, Director Jonelle Procope sold 16,672 shares of Sirius XM 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 transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction dated 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 approximately $601,462.29. This represents a 50.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of recent analyst reports. Barrington Research boosted their price target on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Finally, Morgan Stanley increased their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and a consensus price target of $30.92.

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.