Transcend Capital Advisors LLC Buys 10,000 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Transcend Capital Advisors LLC lifted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 63.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,837 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Transcend Capital Advisors LLC’s holdings in Sirius XM were worth $158,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SIRI. Rhumbline Advisers increased its stake in shares of Sirius XM by 2.1% in the fourth quarter. Rhumbline Advisers now owns 1,045,158 shares of the company’s stock worth $6,637,000 after purchasing an additional 21,711 shares during the period. abrdn plc increased its stake in shares of Sirius XM by 37.5% in the fourth quarter. abrdn plc now owns 112,336 shares of the company’s stock worth $713,000 after purchasing an additional 30,611 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Sirius XM by 49.1% in the fourth quarter. Allianz Asset Management GmbH now owns 31,787 shares of the company’s stock worth $202,000 after purchasing an additional 10,464 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Sirius XM by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,674,769 shares of the company’s stock worth $29,685,000 after purchasing an additional 331,852 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sirius XM by 42.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,109,603 shares of the company’s stock worth $19,746,000 after purchasing an additional 922,700 shares during the period. 10.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SIRI. Pivotal Research downgraded Sirius XM from a “buy” rating to a “hold” rating and decreased their target price for the stock from $7.55 to $7.10 in a research report on Monday, August 1st. Citigroup decreased their target price on Sirius XM from $7.60 to $7.50 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.94.

Sirius XM Trading Down 0.7 %

NASDAQ SIRI opened at $5.87 on Friday. The stock’s 50 day moving average is $6.35 and its two-hundred day moving average is $6.28. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.07 and a beta of 0.94. Sirius XM Holdings Inc. has a 1-year low of $5.69 and a 1-year high of $6.88.

Sirius XM (NASDAQ:SIRIGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. Sirius XM had a net margin of 14.15% and a negative return on equity of 40.89%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, analysts predict that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Friday, August 5th were issued a dividend of $0.022 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Thursday, August 4th. Sirius XM’s payout ratio is 29.03%.

Insider Transactions at Sirius XM

In other news, VP Thomas D. Barry sold 40,793 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $6.51, for a total value of $265,562.43. Following the transaction, the vice president now directly owns 1,111,973 shares of the company’s stock, valued at approximately $7,238,944.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Thomas D. Barry sold 40,793 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $6.51, for a total value of $265,562.43. Following the transaction, the vice president now directly owns 1,111,973 shares of the company’s stock, valued at approximately $7,238,944.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 1,081,370 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $6.58, for a total value of $7,115,414.60. Following the completion of the transaction, the insider now directly owns 7,198,469 shares in the company, valued at $47,365,926.02. The disclosure for this sale can be found here. Insiders have sold 1,530,437 shares of company stock valued at $10,136,827 in the last three months. 0.63% of the stock is owned by corporate insiders.

About Sirius XM

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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