Private Management Group Inc. Sells 118,100 Shares of Sirius XM Holdings Inc. $SIRI

Private Management Group Inc. lowered its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,234,502 shares of the company’s stock after selling 118,100 shares during the quarter. Private Management Group Inc.’s holdings in Sirius XM were worth $36,467,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Sirius XM during the 2nd quarter valued at $25,000. Aberdeen Wealth Management LLC bought a new position in shares of Sirius XM during the second quarter valued at approximately $26,000. 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 during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $32,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Trading Up 0.1%

Shares of NASDAQ:SIRI opened at $28.54 on Friday. The stock has a 50 day moving average of $29.65 and a 200 day moving average of $26.49. The company has a market cap of $9.62 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. 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 (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business posted $0.57 EPS. Sirius XM’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

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

Insider Buying and Selling at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.27% of the company’s stock.

Sirius XM News Roundup

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM is adding former LSU football coach Brian Kelly to a weekly show with Danny Kanell and Roy Philpott. The move expands the company’s sports programming and could help attract college-football listeners and advertising revenue. Brian Kelly joins SiriusXM for weekly show
• Neutral Sentiment: Director Anjali Sud reportedly acquired 60 Sirius XM shares through a dividend-related restricted stock unit credit. Because the shares were received through an equity compensation process rather than a large open-market purchase, the transaction offers limited insight into management’s valuation view. Anjali Sud share acquisition
• Negative Sentiment: SiriusXM is reportedly dropping Howard Stern’s Channel 101 after layoffs affecting roughly a dozen staffers. The decision may reduce programming costs, but it also highlights disruption around one of the company’s highest-profile personalities and could weigh on subscriber engagement, content visibility and investor confidence. Howard Stern’s SiriusXM 101 channel dropped
• Negative Sentiment: Reports that Stern’s channel was removed following broader layoffs add to concerns about SiriusXM’s content strategy and its relationship with marquee talent. The impact could be partly offset if the replacement programming improves listening, but that benefit remains unproven. Howard Stern channel replacement announced

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SIRI. Benchmark restated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. UBS Group set a $30.00 target price on shares of Sirius XM in a report on Wednesday, July 29th. Citigroup reiterated a “sell” rating and issued a $25.00 price target (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Finally, Guggenheim restated a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a research note 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 assigned a Sell rating to the company. According to MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus target price of $30.92.

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.