Clear Harbor Asset Management LLC Purchases New Stake in Sirius XM Holdings Inc. $SIRI

Clear Harbor Asset Management LLC acquired a new position 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 firm acquired 24,206 shares of the company’s stock, valued at approximately $956,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Sirius XM during the fourth quarter worth $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sirius XM by 11.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after buying an additional 92,111 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Sirius XM by 5.2% in the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Sirius XM during the 2nd quarter valued at about $208,000. 10.69% of the stock is currently owned by institutional investors.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonelle Procope sold 16,672 shares of the business’s 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 transaction, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. This trade represents a 47.60% decrease in their position. The SEC filing for this sale provides additional information. 3.27% of the stock is owned by company insiders.

Sirius XM Trading Up 1.1%

Shares of NASDAQ:SIRI opened at $28.69 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $29.58 and its 200 day moving average price is $26.23. The company has a market cap of $9.67 billion, a PE ratio of 11.48, 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.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, July 30th. The company reported $0.70 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company posted $0.57 EPS. Sirius XM’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

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

Wall Street Analyst Weigh In

SIRI has been the topic of several research reports. Citigroup reiterated a “sell” rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Guggenheim restated a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Morgan Stanley upped their target price on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Evercore set a $28.00 price target on Sirius XM in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $30.92.

About Sirius XM

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.