K.J. Harrison & Partners Inc Invests $5.21 Million in Sirius XM Holdings Inc. $SIRI

K.J. Harrison & Partners Inc acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 131,967 shares of the company’s stock, valued at approximately $5,212,000.

A number of other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its stake in Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after acquiring an additional 794 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Sirius XM during the second quarter worth $32,000. Rossby Financial LCC grew its position in shares of Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of Sirius XM in the first quarter valued at $33,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated 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 owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 target price on shares of Sirius XM in a research report on Friday, August 7th. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average target price of $30.92.

Sirius XM Trading Up 2.4%

Shares of SIRI opened at $29.13 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $9.82 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The stock’s fifty day simple moving average is $29.50 and its 200 day simple moving average is $26.04. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66.

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

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM’s payout ratio is currently 43.20%.

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.