Connor Clark & Lunn Investment Management Ltd. Takes $180.54 Million Position in Sirius XM Holdings Inc. $SIRI

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,567,458 shares of the company’s stock, valued at approximately $180,538,000. Connor Clark & Lunn Investment Management Ltd. owned 1.36% of Sirius XM as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SIRI. Sunbelt Securities Inc. boosted its holdings 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 worth $30,000 after buying an additional 794 shares during the period. Root Financial Partners LLC increased its position in shares of Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after acquiring an additional 1,195 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Sirius XM during the second quarter valued at approximately $32,000. Global Retirement Partners LLC acquired a new stake in shares of Sirius XM during the second quarter valued at approximately $32,000. Finally, Rossby Financial LCC lifted its position in shares of Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after acquiring an additional 593 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SIRI. Citigroup reaffirmed a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Bank of America reissued an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Wells Fargo & Company raised their target price on Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Finally, Guggenheim reiterated a “buy” rating and set a $35.00 price target (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.92.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the company’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 directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This represents a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the company’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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is currently owned by company insiders.

Sirius XM Price Performance

Sirius XM stock opened at $28.69 on Monday. The firm has a market cap of $9.67 billion, a PE ratio of 11.48, a P/E/G ratio of 0.62 and a beta of 0.95. 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 firm’s 50 day moving average price is $29.58 and its two-hundred day moving average price is $26.28. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66.

Sirius XM (NASDAQ:SIRI) last released its 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). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company 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 company earned $0.57 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors 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 dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) 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.