Sirius XM (NASDAQ:SIRI) Director Jonelle Procope Sells 16,672 Shares of Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was 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 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.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $29.91 on Friday. The company has a 50 day simple moving average of $29.44 and a two-hundred day simple moving average of $25.66. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.65 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46.

Sirius XM (NASDAQ:SIRI) last issued 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). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business 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 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s payout ratio is 43.20%.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently bought and sold shares of SIRI. Fifth Third Bancorp bought a new position in shares of Sirius XM during the first quarter worth $1,243,000. Aspen Grove Capital LLC bought a new position in shares of Sirius XM during the 1st quarter valued at about $2,277,000. Brighton Jones LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at about $622,000. Dimensional Fund Advisors LP grew its position in shares of Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Sirius XM by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 2,177,761 shares of the company’s stock worth $50,263,000 after purchasing an additional 157,860 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SIRI. Benchmark restated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Wells Fargo & Company upped their price target on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Guggenheim reissued a “buy” rating and set a $35.00 price objective (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Barrington Research lifted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.92.

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.