Jonelle Procope Sells 16,672 Shares of Sirius XM (NASDAQ:SIRI) Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the transaction, the director directly owned 18,354 shares of the company’s stock, valued at $550,069.38. This represents a 47.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $29.91 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $25.66. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66. The stock has a market cap of $10.08 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared 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 3.6%. Sirius XM’s payout ratio is 43.20%.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. BlackRock Inc. grew its stake 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 acquiring an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sirius XM by 262.1% in 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 in the last quarter. Deutsche Bank AG acquired a new stake in shares of Sirius XM during the second quarter worth approximately $145,468,000. AQR Capital Management LLC boosted its holdings 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 worth $117,327,000 after purchasing an additional 3,233,922 shares during the period. Finally, Norges Bank purchased a new position in Sirius XM during the fourth quarter valued at approximately $57,124,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Evercore set a $28.00 target price on Sirius XM in a report on Friday, May 1st. Wells Fargo & Company upped their target price on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, 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. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.