Jupiter Topco LLC Invests $185.80 Million in Sirius XM Holdings Inc. $SIRI

Jupiter Topco LLC acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,701,821 shares of the company’s stock, valued at approximately $185,797,000. Jupiter Topco LLC owned approximately 1.39% of Sirius XM at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in Sirius XM during the 2nd quarter worth approximately $25,000. Aberdeen Wealth Management LLC bought a new position in Sirius XM in the second quarter valued at approximately $26,000. Sunbelt Securities Inc. boosted its holdings in shares of Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after buying an additional 794 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Sirius XM by 612.8% in the first 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 during the period. Finally, Gables Capital Management Inc. bought a new stake in shares of Sirius XM during the second quarter worth $32,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SIRI shares. Morgan Stanley raised 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. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 target price on shares of Sirius XM in a report on Tuesday, July 28th. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price target on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $30.92.

Sirius XM Stock Down 0.8%

Sirius XM stock opened at $28.51 on Thursday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The company has a fifty day simple moving average of $29.63 and a 200 day simple moving average of $26.43. The company has a market cap of $9.61 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly 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 business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm earned $0.57 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, August 10th. Sirius XM’s dividend payout ratio is presently 43.20%.

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.