Towerview LLC Has $8.35 Million Stake in Sirius XM Holdings Inc. $SIRI

Towerview LLC lessened its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 15.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,500 shares of the company’s stock after selling 52,800 shares during the quarter. Sirius XM comprises 5.5% of Towerview LLC’s portfolio, making the stock its 6th biggest holding. Towerview LLC owned approximately 0.08% of Sirius XM worth $8,345,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Sirius XM during the 4th quarter valued at about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after purchasing an additional 92,111 shares during the last quarter. Focus Partners Wealth lifted its holdings in Sirius XM by 5.2% during the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Sirius XM during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Performance

SIRI opened at $28.46 on Friday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $32.66. The firm’s fifty day simple moving average is $29.47 and its two-hundred day simple moving average is $25.94. 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 posted its quarterly earnings data 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 return on equity of 9.37% and a net margin of 10.23%.The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm posted $0.57 earnings per share. Sirius XM’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

Analyst Ratings Changes

Several brokerages have issued reports on SIRI. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 target price on shares of Sirius XM in a report on Friday, August 7th. Benchmark restated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Citigroup reissued a “sell” rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Four equities research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.92.

Insider Transactions at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred 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 sale, the insider owned 20,163 shares of the company’s stock, valued at $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares of the company’s stock, valued at $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.27% of the company’s stock.

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.