UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 28,377 Shares of Sirius XM Holdings Inc. $SIRI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 642,939 shares of the company’s stock after buying an additional 28,377 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Sirius XM worth $18,992,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SIRI. Global Retirement Partners LLC bought a new position in Sirius XM during the 2nd quarter worth about $32,000. Sunbelt Securities Inc. raised its holdings in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Sirius XM by 612.8% in the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the period. Western Wealth Management LLC bought a new position in shares of Sirius XM during the first quarter valued at approximately $33,000. Finally, Altshuler Shaham Ltd increased its holdings in Sirius XM by 36.7% during 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 during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM News Summary

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

• Positive Sentiment: Deutsche Bank upgraded Sirius XM to Buy from Hold and raised its price target to $45 from $31. The firm sees significant upside from SiriusXM’s transition toward digital audio and believes the market is underestimating the company’s growth potential. The upgrade previously drove a strong one-day rally and remains the primary bullish catalyst for SIRI. Deutsche Bank sees significant upside from digital audio
• Positive Sentiment: Valuation-focused coverage continues to argue that Sirius XM remains inexpensive. Discounted cash-flow analysis and earnings-based multiples reportedly indicate that the stock trades below estimated intrinsic value, despite a roughly 45% year-to-date advance. This supports the case for additional upside if operating performance improves. Sirius XM stock still looks cheap on cash flow and earnings
• Neutral Sentiment: SiriusXM is expanding sports programming. New York Giants defensive tackle Shelby Harris will host “The Players’ Point” on SiriusXM NFL Radio, adding talent and content to the company’s sports offering. The announcement is strategically supportive but is unlikely to materially change near-term financial results. Shelby Harris to host The Players’ Point
• Negative Sentiment: Howard Stern’s reduced schedule and reported studio shake-up introduce programming uncertainty. Reports that Stern will host only one show per week, with his New York studios potentially being used by other SiriusXM talent, could raise concerns about retaining a major audience draw and managing content costs. Howard Stern’s reduced SiriusXM role
• Negative Sentiment: Investors may be consolidating gains after the recent upgrade-driven surge. Although Deutsche Bank’s $45 target is highly bullish, the stock’s substantial year-to-date gain makes the shares more vulnerable to profit-taking and concerns that the optimistic outlook is already partly reflected in the price. Sirius XM gets a Deutsche Bank upgrade

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 3.27% of the company’s stock.

Sirius XM Trading Down 2.6%

Sirius XM stock opened at $28.99 on Friday. The stock has a 50-day moving average of $29.74 and a two-hundred day moving average of $26.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66. The stock has a market cap of $9.77 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results 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 return on equity of 9.37% and a net margin of 10.23%.The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. Sirius XM’s revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Sirius XM Holdings Inc. will post 3.02 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 3.7%. Sirius XM’s dividend payout ratio is presently 43.20%.

Analyst Ratings Changes

A number of brokerages recently commented on SIRI. TD Cowen downgraded shares of Sirius XM to a “hold” rating in a research note on Wednesday. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Scotiabank started coverage on Sirius XM in a research report on Wednesday. They issued an “outperform” rating for the company. BNP Paribas Exane cut Sirius XM to a “neutral” rating in a research note on Wednesday. Finally, Wolfe Research began coverage on shares of Sirius XM in a report on Wednesday. They issued an “outperform” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.00.

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.