Sanctuary Advisors LLC Takes $6.56 Million Position in Sirius XM Holdings Inc. $SIRI

Sanctuary Advisors LLC purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 166,091 shares of the company’s stock, valued at approximately $6,561,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of 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 buying an additional 1,195 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Sirius XM during the 2nd quarter valued at $32,000. Global Retirement Partners LLC purchased a new stake in shares of Sirius XM in the 2nd quarter worth about $32,000. Finally, Rossby Financial LCC grew its position in shares of Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Trading Down 0.8%

NASDAQ SIRI opened at $28.45 on Tuesday. 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. The stock’s fifty day moving average price is $29.60 and its 200-day moving average price is $26.33. The stock has a market cap of $9.59 billion, a P/E ratio of 11.38, a P/E/G ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results 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). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.Sirius XM’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date 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 presently 43.20%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SIRI shares. Benchmark reissued a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Morgan Stanley upped their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Guggenheim restated a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Bank of America reiterated an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Four investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.92.

Insider Buying and Selling

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction on 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 owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is owned by insiders.

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.