Entropy Technologies LP Invests $1.24 Million in Sirius XM Holdings Inc. $SIRI

Entropy Technologies LP bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 53,858 shares of the company’s stock, valued at approximately $1,243,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after buying an additional 4,560,821 shares during the last quarter. AQR Capital Management LLC lifted its position in Sirius XM by 165.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Norges Bank acquired a new position in shares of Sirius XM during the 4th quarter worth about $57,124,000. Hsbc Holdings PLC boosted its stake in shares of Sirius XM by 858.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock worth $41,726,000 after buying an additional 1,859,872 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Sirius XM in the 4th quarter valued at about $34,548,000. Institutional investors own 10.69% of the company’s stock.

Insider Activity 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 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 in the company, valued at $601,462.29. The trade was 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 this hyperlink. 3.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SIRI has been the topic of several analyst reports. Morgan Stanley upped their target price on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Citigroup reaffirmed a “sell” rating and set a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Wells Fargo & Company set a $30.00 price objective on Sirius XM and gave the stock an “equal weight” rating in a research note on Monday. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Finally, Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $29.09.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $31.22 on Tuesday. The business’s 50 day moving average price is $29.08 and its two-hundred day moving average price is $25.08. The company has a market cap of $10.51 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $31.49.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. On average, analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s payout ratio is 45.57%.

Sirius XM Company 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.