Sirius XM Holdings Inc. $SIRI Shares Sold by Towerview LLC

Towerview LLC decreased its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 15.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 282,500 shares of the company’s stock after selling 52,800 shares during the period. Sirius XM makes up about 5.5% of Towerview LLC’s holdings, making the stock its 6th biggest position. Towerview LLC’s holdings in Sirius XM were worth $8,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its position in shares of Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. Rossby Financial LCC increased its position in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after purchasing an additional 593 shares during the last quarter. Root Financial Partners LLC raised 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 during the period. Western Wealth Management LLC purchased a new position in shares of Sirius XM in the 1st quarter worth about $33,000. Finally, Altshuler Shaham Ltd raised its holdings in Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after buying an additional 417 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The shares were 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 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 business’s 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Stock Performance

SIRI opened at $28.46 on Friday. The business has a fifty day simple moving average of $29.47 and a 200-day simple moving average of $25.94. The firm has a market cap of $9.59 billion, a PE ratio of 11.38, a P/E/G ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI) last posted 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 return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. Sirius XM’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SIRI shares. Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of Sirius XM in a research note on Tuesday, July 28th. Guggenheim reissued a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. Citigroup reiterated a “sell” rating and issued a $25.00 price target (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Morgan Stanley increased their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average 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.