The Manufacturers Life Insurance Company Buys 151,747 Shares of Sirius XM Holdings Inc. $SIRI

The Manufacturers Life Insurance Company boosted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 250.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,389 shares of the company’s stock after purchasing an additional 151,747 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sirius XM were worth $6,274,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SIRI. Global Retirement Partners LLC bought a new stake in shares of Sirius XM during the 2nd quarter worth approximately $32,000. Sunbelt Securities Inc. grew its stake 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 valued at $30,000 after buying an additional 794 shares in the last quarter. Root Financial Partners LLC grew its stake 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 valued at $32,000 after buying an additional 1,195 shares in the last quarter. Western Wealth Management LLC acquired a new position in Sirius XM during the first quarter worth $33,000. Finally, Altshuler Shaham Ltd increased its holdings in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

Insider Activity at Sirius XM

In other news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.27% of the company’s stock.

Sirius XM Stock Performance

NASDAQ SIRI opened at $29.15 on Monday. The firm has a 50-day moving average of $29.63 and a 200-day moving average of $27.07. 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 stock has a market cap of $9.83 billion, a PE ratio of 11.66, a P/E/G ratio of 0.52 and a beta of 0.95. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $32.66.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.70 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 analyst estimates of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. On average, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.7%. Sirius XM’s dividend payout ratio is presently 43.20%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SIRI. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. BNP Paribas Exane downgraded shares of Sirius XM to a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Cantor Fitzgerald started coverage on Sirius XM in a report on Wednesday, September 2nd. They set an “overweight” rating for the company. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average price target of $32.00.

More Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Sirius XM was highlighted among broadcast radio and television stocks that could benefit from strong content consumption and steady digital viewing. However, the sector continues to face intense competition for advertising revenue. 4 Broadcast Radio & TV Stocks to Watch From a Prospering Industry
• Positive Sentiment: SIRI advanced while the overall market declined in the latest session, signaling relative strength and possibly continued investor interest in the stock. The article provides limited information on a specific fundamental driver. Sirius XM Advances While Market Declines
• Neutral Sentiment: Howard Stern’s program is moving toward HBO Max after SiriusXM dropped Channel 101. The transition could reduce SiriusXM’s exclusive content appeal, but the company may also benefit from lower programming or operating costs following the channel changes and reported layoffs. Howard Stern’s Wife Addresses HBO Move
• Neutral Sentiment: A Sirius XM presentation at the Goldman Sachs Communacopia + Technology Conference was published, but the supplied report does not identify new guidance, financial targets, or strategic announcements that would materially change the investment outlook. Sirius XM Goldman Sachs Conference Transcript
• Negative Sentiment: An analysis included Sirius XM among cash-generating stocks considered risky, arguing that cash generation alone does not ensure shareholder value if management fails to reinvest effectively. This may reinforce concerns about Sirius XM’s growth prospects, although it is an opinion-based assessment rather than a new company announcement. 3 Cash-Producing Stocks We Find Risky

Sirius XM Company Profile

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.