OMERS ADMINISTRATION Corp Invests $279.01 Million in Sirius XM Holdings Inc. $SIRI

OMERS ADMINISTRATION Corp bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,053,566 shares of the company’s stock, valued at approximately $279,010,000. Sirius XM accounts for 1.7% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Valeo Financial Advisors LLC increased its position in Sirius XM by 3.2% during the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after acquiring an additional 340 shares during the period. Altshuler Shaham Ltd boosted its holdings in Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after purchasing an additional 417 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Sirius XM by 33.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock valued at $55,000 after purchasing an additional 463 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock worth $291,000 after purchasing an additional 509 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their position. The SEC filing for this sale provides additional information. 3.27% of the stock is owned by corporate insiders.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $28.69 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. The firm’s 50-day moving average price is $29.58 and its two-hundred day moving average price is $26.28.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The firm 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%. Sirius XM’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is currently 43.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup reaffirmed a “sell” rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Guggenheim reiterated a “buy” rating and issued a $35.00 price target (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sirius XM in a report on Tuesday, July 28th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.92.

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.