55,000 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 55,000 shares of the company’s stock, valued at approximately $2,173,000.

Several other large investors have also added to or reduced their stakes in the company. Jupiter Topco LLC bought a new position in shares of Sirius XM in the second quarter worth approximately $185,797,000. Hsbc Holdings PLC purchased a new stake in shares of Sirius XM in the second quarter worth $1,041,000. PDT Partners LLC bought a new stake in shares of Sirius XM during the 2nd quarter valued at $4,911,000. Canada Pension Plan Investment Board bought a new stake in shares of Sirius XM during the 2nd quarter valued at $1,527,300,000. Finally, Legal & General Group Plc purchased a new position in shares of Sirius XM during the 2nd quarter valued at $238,990,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.73 on Wednesday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.62 and a beta of 0.95. The firm has a fifty day moving average price of $29.62 and a 200 day moving average price of $26.39. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. 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 (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 analysts’ consensus estimates of $0.78 by ($0.08). The company had revenue of $2.16 billion during 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 business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

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

Insider Activity at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SIRI. Benchmark reiterated a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price objective on shares of Sirius XM in a research report on Friday, August 7th. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Citigroup reiterated a “sell” rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus target price of $30.92.

About Sirius XM

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.