PCM Encore LLC Makes New $1.64 Million Investment in Sirius XM Holdings Inc. $SIRI

PCM Encore LLC purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, HoldingsChannel.com reports. The firm purchased 41,613 shares of the company’s stock, valued at approximately $1,644,000.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Sirius XM by 11.1% in 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 buying an additional 92,111 shares during the period. Focus Partners Wealth boosted its holdings in Sirius XM by 5.2% in the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after acquiring an additional 800 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in Sirius XM during the second quarter valued at about $208,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SIRI. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 target price on shares of Sirius XM in a report on Friday, August 7th. UBS Group set a $30.00 target price on Sirius XM in a report on Wednesday, July 29th. Finally, Benchmark reissued a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.92.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.39 on Friday. The firm’s fifty day simple moving average is $29.56 and its 200 day simple moving average is $26.22. 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 twelve month low of $19.76 and a twelve month high of $32.66. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results 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 net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter 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 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio is presently 43.20%.

Insider Transactions at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the business’s 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 transaction, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.27% of the stock is currently owned by company insiders.

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.