Elevation Point Wealth Partners LLC Makes New $1.56 Million Investment in Sirius XM Holdings Inc. $SIRI

Elevation Point Wealth Partners LLC purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 39,297 shares of the company’s stock, valued at approximately $1,557,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in Sirius XM by 82.9% during the 2nd 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 last quarter. Dimensional Fund Advisors LP grew 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 valued at $145,426,000 after buying an additional 4,560,821 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after acquiring an additional 3,233,922 shares in the last quarter. Deutsche Bank AG purchased a new position in Sirius XM in the 2nd quarter worth approximately $145,468,000. Finally, William Blair Investment Management LLC bought a new position in Sirius XM in the 2nd quarter valued at approximately $143,695,000. Institutional investors own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SIRI shares. Guggenheim reissued a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Benchmark reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Morgan Stanley upped their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of Sirius XM in a research report on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.92.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $28.69 on Monday. The stock has a market cap of $9.67 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.62 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. The stock’s fifty day moving average is $29.58 and its 200 day moving average is $26.28. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66.

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). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

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

Sirius XM Company 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.