Panview Capital Ltd Acquires New Shares in Sirius XM Holdings Inc. $SIRI

Panview Capital Ltd acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 486,326 shares of the company’s stock, valued at approximately $19,210,000. Sirius XM makes up approximately 3.4% of Panview Capital Ltd’s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Sirius XM by 11.1% in the first 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 last quarter. Focus Partners Wealth grew its position in Sirius XM by 5.2% in 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. grew its position in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Sirius XM during the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $499,659.84. Following the transaction, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SIRI. Morgan Stanley increased their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sirius XM in a report on Tuesday, July 28th. Evercore set a $28.00 price objective on Sirius XM in a research report on Friday, May 1st. Wells Fargo & Company increased their target price on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Barrington Research raised their target price on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. 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, the stock has a consensus rating of “Hold” and an average target price of $30.92.

Sirius XM Price Performance

SIRI opened at $28.69 on Monday. The firm’s 50 day simple moving average is $29.58 and its two-hundred day simple moving average is $26.28. The company has a market capitalization of $9.67 billion, a PE ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year 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 issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s payout ratio is currently 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.