Wellington Management Group LLP Acquires New Shares in Sirius XM Holdings Inc. $SIRI

Wellington Management Group LLP acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 9,848,227 shares of the company’s stock, valued at approximately $389,110,000.

A number of other institutional investors also recently bought and sold shares of SIRI. Jones Financial Companies Lllp acquired a new stake in Sirius XM in the second quarter valued at $25,000. Aberdeen Wealth Management LLC acquired a new position in shares of Sirius XM during the 2nd quarter worth $26,000. Sunbelt Securities Inc. boosted its position in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after buying an additional 794 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Sirius XM in the 2nd quarter valued at about $32,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM is adding former LSU football coach Brian Kelly to a weekly show with Danny Kanell and Roy Philpott. The move expands the company’s sports programming and could help attract college-football listeners and advertising revenue. Brian Kelly joins SiriusXM for weekly show
• Neutral Sentiment: Director Anjali Sud reportedly acquired 60 Sirius XM shares through a dividend-related restricted stock unit credit. Because the shares were received through an equity compensation process rather than a large open-market purchase, the transaction offers limited insight into management’s valuation view. Anjali Sud share acquisition
• Negative Sentiment: SiriusXM is reportedly dropping Howard Stern’s Channel 101 after layoffs affecting roughly a dozen staffers. The decision may reduce programming costs, but it also highlights disruption around one of the company’s highest-profile personalities and could weigh on subscriber engagement, content visibility and investor confidence. Howard Stern’s SiriusXM 101 channel dropped
• Negative Sentiment: Reports that Stern’s channel was removed following broader layoffs add to concerns about SiriusXM’s content strategy and its relationship with marquee talent. The impact could be partly offset if the replacement programming improves listening, but that benefit remains unproven. Howard Stern channel replacement announced

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $28.54 on Friday. The company has a 50-day simple moving average of $29.65 and a 200-day simple moving average of $26.49. 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 company has a market cap of $9.62 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. 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 announced its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company posted $0.57 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 10th. Sirius XM’s dividend payout ratio is currently 43.20%.

Insider Activity

In other news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Benchmark restated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a research report on Tuesday, July 28th. Wells Fargo & Company raised their price objective 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. Morgan Stanley lifted their price objective on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Finally, Barrington Research upped their target price on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.92.

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.