Corient Private Wealth LP Purchases New Holdings in Sirius XM Holdings Inc. $SIRI

Corient Private Wealth LP acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, HoldingsChannel reports. The institutional investor acquired 439,960 shares of the company’s stock, valued at approximately $17,379,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Sirius XM in the second quarter worth $25,000. Aberdeen Wealth Management LLC bought a new stake in shares of Sirius XM in the 2nd quarter worth $26,000. Gables Capital Management Inc. bought a new stake in shares of Sirius XM in the 2nd quarter worth $32,000. Global Retirement Partners LLC purchased a new position in shares of Sirius XM in the second quarter worth $32,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SIRI. UBS Group set a $30.00 target price on Sirius XM in a research report on Wednesday, July 29th. Citigroup restated a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Barrington Research boosted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.92.

Insider Buying and Selling

In other news, Director Jonelle Procope sold 16,672 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.27% of the stock is currently owned by insiders.

Sirius XM Stock Up 0.1%

Shares of SIRI stock opened at $28.54 on Friday. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66. The stock has a market cap of $9.62 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.62 and a beta of 0.95. 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 has a 50 day simple moving average of $29.65 and a two-hundred day simple moving average of $26.49.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results 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 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 analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

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

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.