William Blair Investment Management LLC Invests $143.69 Million in Sirius XM Holdings Inc. $SIRI

William Blair Investment Management LLC bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,635,082 shares of the company’s stock, valued at approximately $143,695,000.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC acquired a new position in Sirius XM during the fourth quarter valued at $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Sirius XM by 11.1% during 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 purchasing an additional 92,111 shares during the period. Focus Partners Wealth grew its position in Sirius XM by 5.2% during the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after purchasing an additional 800 shares during the period. Geneos Wealth Management Inc. raised its stake 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 last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Sirius XM during the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SIRI. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price target on shares of Sirius XM in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Morgan Stanley boosted their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. UBS Group set a $30.00 price target on shares of Sirius XM in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $30.92.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction dated Wednesday, May 27th. The shares were 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 of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. 3.27% of the stock is currently owned by insiders.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.69 on Friday. 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’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 P/E ratio of 11.48, a P/E/G ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. Sirius XM’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) 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.