348,943 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Man Group plc

Man Group plc acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 348,943 shares of the company’s stock, valued at approximately $13,800,000.

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

Sirius XM Stock Performance

Sirius XM stock opened at $28.50 on Friday. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The stock’s 50 day simple moving average is $29.64 and its two-hundred day simple moving average is $26.48. 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 stock has a market cap of $9.61 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.62 and a beta of 0.95.

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 net margin of 10.23% and a return on equity of 9.37%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were issued 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 was Monday, August 10th. Sirius XM’s payout ratio is 43.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target (up from $34.00) on shares of Sirius XM in a research report on Friday, July 31st. Wells Fargo & Company increased their price objective on Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Evercore set a $28.00 price objective on Sirius XM in a research report on Friday, May 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 target price on shares of Sirius XM in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $30.92.

Insider Activity

In related news, Director Jonelle Procope sold 16,672 shares of the business’s 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 $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.27% of the stock is currently owned by 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.