Strategic Financial Concepts LLC Acquires New Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Strategic Financial Concepts LLC purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,747 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC bought a new position in shares of Sirius XM in the second quarter worth approximately $613,000. Impact Partnership Wealth LLC purchased a new position in Sirius XM in the second quarter worth $375,000. PACK Private Wealth LLC purchased a new stake in Sirius XM during the second quarter valued at about $53,000. Picton Mahoney Asset Management bought a new stake in Sirius XM during the second quarter worth about $159,000. Finally, Van ECK Associates Corp increased its position in shares of Sirius XM by 13.8% during the 2nd quarter. Van ECK Associates Corp now owns 597,185 shares of the company’s stock valued at $1,690,000 after purchasing an additional 72,528 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Up 3.4 %

Shares of NASDAQ:SIRI opened at $28.31 on Thursday. The stock has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $3.64. Sirius XM Holdings Inc. has a 12-month low of $24.43 and a 12-month high of $57.80. The stock has a market capitalization of $108.90 billion, a price-to-earnings ratio of 85.79, a PEG ratio of 0.88 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.0266 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.11 annualized dividend and a dividend yield of 0.38%. Sirius XM’s dividend payout ratio is presently 30.30%.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a research note on Monday, July 15th. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target on the stock. in a research note on Thursday, July 25th. StockNews.com began coverage on Sirius XM in a research note on Monday, August 19th. They set a “hold” rating for the company. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their target price for the stock from $4.25 to $3.25 in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.80.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the transaction, the insider now directly owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, 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 systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.