Solstein Capital LLC Purchases Shares of 44,060 Sirius XM Holdings Inc. $SIRI

Solstein Capital LLC acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, Holdings Channel reports. The firm acquired 44,060 shares of the company’s stock, valued at approximately $1,742,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock worth $519,970,000 after acquiring an additional 7,977,045 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of Sirius XM in the 2nd quarter worth approximately $387,690,000. Dimensional Fund Advisors LP raised its holdings in shares of Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. AQR Capital Management LLC lifted its stake in Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after purchasing an additional 3,233,922 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sirius XM during the second quarter worth approximately $180,538,000. Institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SIRI. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 target price on shares of Sirius XM in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price target on Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $30.92.

Sirius XM Stock Performance

Shares of SIRI stock opened at $28.69 on Monday. 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. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 0.62 and a beta of 0.95. The stock’s fifty day simple moving average is $29.58 and its 200-day simple moving average is $26.28.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. Sirius XM’s payout ratio is presently 43.20%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were 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 approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on 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 owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This represents 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 corporate insiders.

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.