Callan Family Office LLC Makes New Investment in Sirius XM Holdings Inc. $SIRI

Callan Family Office LLC acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, HoldingsChannel reports. The firm acquired 39,156 shares of the company’s stock, valued at approximately $1,547,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. grew its holdings in shares of 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 buying an additional 794 shares during the last quarter. Root Financial Partners LLC raised its stake in Sirius XM by 612.8% during 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 last quarter. Gables Capital Management Inc. purchased a new stake in Sirius XM during the 2nd quarter valued at approximately $32,000. Global Retirement Partners LLC acquired a new stake in Sirius XM during the 2nd quarter worth approximately $32,000. Finally, Rossby Financial LCC lifted its position in Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after acquiring an additional 593 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.27% of the stock is currently owned by company insiders.

Sirius XM Stock Performance

NASDAQ SIRI opened at $28.69 on Monday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. The business’s 50 day moving average is $29.58 and its two-hundred day moving average is $26.28. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79.

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 analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barrington Research boosted their target price on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price target 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. Citigroup reaffirmed a “sell” rating and set a $25.00 price target (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Morgan Stanley lifted their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Finally, Guggenheim reissued a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.