Pacer Advisors Inc. Increases Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Pacer Advisors Inc. lifted its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 10,934.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,336,514 shares of the company’s stock after purchasing an additional 24,115,968 shares during the period. Pacer Advisors Inc. owned about 0.63% of Sirius XM worth $110,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SIRI. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Sirius XM by 615.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,102 shares of the company’s stock worth $32,000 after purchasing an additional 6,969 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Sirius XM in the 1st quarter valued at about $33,000. Harvest Fund Management Co. Ltd increased its position in Sirius XM by 86.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 10,179 shares of the company’s stock valued at $40,000 after acquiring an additional 4,725 shares during the period. Delphia USA Inc. acquired a new position in Sirius XM in the 1st quarter valued at about $42,000. Finally, HB Wealth Management LLC acquired a new position in Sirius XM in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 10.50% of the company’s stock.

Sirius XM Stock Up 0.2 %

Shares of SIRI stock traded up $0.01 on Tuesday, reaching $4.11. 2,736,143 shares of the stock were exchanged, compared to its average volume of 18,240,799. The stock has a market cap of $15.79 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04. The firm has a 50 day moving average of $4.75 and a two-hundred day moving average of $4.16. Sirius XM Holdings Inc. has a 1-year low of $3.32 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Sirius XM had a negative return on equity of 35.83% and a net margin of 12.90%. On average, equities research analysts predict that Sirius XM Holdings Inc. will post 0.3 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th were issued a $0.0242 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.10 annualized dividend and a yield of 2.36%. Sirius XM’s dividend payout ratio is currently 34.48%.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several recent research reports. StockNews.com started coverage on Sirius XM in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, August 21st. Deutsche Bank Aktiengesellschaft raised Sirius XM from a “sell” rating to a “hold” rating and decreased their price target for the stock from $6.25 to $6.00 in a research note on Wednesday, August 2nd. Wells Fargo & Company upped their target price on Sirius XM from $4.75 to $5.50 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Finally, Benchmark upped their target price on Sirius XM from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.10.

Insider Activity at Sirius XM

In related news, CEO Jennifer C. Witz purchased 250,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $4.11 per share, for a total transaction of $1,027,500.00. Following the acquisition, the chief executive officer now owns 2,812,000 shares in the company, valued at $11,557,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

About Sirius XM

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio system and streamed via applications for mobile and home devices, and other consumer electronic equipment.