GQG Partners LLC Purchases New Holdings in Sirius XM Holdings Inc. $SIRI

GQG Partners LLC acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, HoldingsChannel reports. The firm acquired 274,860 shares of the company’s stock, valued at approximately $10,868,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock valued at $519,970,000 after purchasing an additional 7,977,045 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 worth $145,426,000 after purchasing an additional 4,560,821 shares during the period. AQR Capital Management LLC grew its position in Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after buying an additional 3,233,922 shares during the last quarter. Deutsche Bank AG purchased a new position in Sirius XM in the 2nd quarter valued at $145,468,000. Finally, William Blair Investment Management LLC acquired a new position in Sirius XM in the 2nd quarter valued at $143,695,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The stock was 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. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated 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 $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is owned by company insiders.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.69 on Friday. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. 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’s 50 day simple moving average is $29.58 and its 200-day simple moving average is $26.23. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company posted $0.57 earnings per share. Sirius XM’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend 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%.

Analysts Set New Price Targets

SIRI has been the topic of a number of recent analyst reports. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Morgan Stanley lifted their price objective on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Benchmark reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Wells Fargo & Company increased their target price on Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Barrington Research raised their price target on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.