Quantinno Capital Management LP Grows Position in Sirius XM Holdings Inc. $SIRI

Quantinno Capital Management LP lifted its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 37.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,336 shares of the company’s stock after buying an additional 29,419 shares during the quarter. Quantinno Capital Management LP’s holdings in Sirius XM were worth $2,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Sirius XM by 262.1% during the first 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 period. AQR Capital Management LLC boosted its position in shares of Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after acquiring an additional 3,233,922 shares during the period. Norges Bank bought a new position in shares of Sirius XM in the fourth quarter valued at approximately $57,124,000. Hsbc Holdings PLC grew its stake in Sirius XM by 858.4% during the fourth quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after acquiring an additional 1,859,872 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Sirius XM during the fourth quarter valued at approximately $34,548,000. 10.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at $550,069.38. This represents a 47.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SIRI shares. Guggenheim reiterated a “buy” rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Benchmark reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Rosenblatt Securities restated a “buy” rating and set a $45.00 target price on shares of Sirius XM in a research report on Tuesday, July 28th. Citigroup restated a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Finally, Morgan Stanley lifted their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.92.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $29.91 on Monday. The firm has a market capitalization of $10.08 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95. The company has a current ratio of 0.46, a quick 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 business’s 50-day moving average price is $29.44 and its 200-day moving average price is $25.70.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.6%. Sirius XM’s dividend payout ratio (DPR) is currently 43.20%.

About Sirius XM

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.