K.J. Harrison & Partners Inc Purchases New Position in Sirius XM Holdings Inc. $SIRI

K.J. Harrison & Partners Inc acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 131,967 shares of the company’s stock, valued at approximately $5,212,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SIRI. Valeo Financial Advisors LLC boosted its position in shares of Sirius XM by 3.2% in the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after buying an additional 340 shares during the period. Altshuler Shaham Ltd grew its stake in shares of 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Sirius XM by 33.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock valued at $55,000 after buying an additional 463 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Sirius XM by 36.7% during 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, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock worth $291,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Insider Activity

In related news, Director Jonelle Procope sold 16,672 shares of Sirius XM 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 transaction, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred 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 sale, the insider owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a report on Friday, August 7th. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Wells Fargo & Company boosted their target price on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Citigroup restated a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Finally, Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $30.92.

Sirius XM Trading Up 2.4%

NASDAQ:SIRI opened at $29.13 on Tuesday. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The business’s 50-day simple moving average is $29.50 and its 200 day simple moving average is $26.04.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $0.57 EPS. Sirius XM’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict 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 declared 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.7%. Sirius XM’s dividend payout ratio is currently 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.