William Blair Investment Management LLC Invests $143.69 Million in Sirius XM Holdings Inc. $SIRI

William Blair Investment Management LLC acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,635,082 shares of the company’s stock, valued at approximately $143,695,000. William Blair Investment Management LLC owned about 1.08% of Sirius XM at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SIRI. BlackRock Inc. raised its holdings in Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock worth $519,970,000 after purchasing an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 last quarter. Deutsche Bank AG bought a new stake in shares of Sirius XM in the 2nd quarter valued at about $145,468,000. AQR Capital Management LLC boosted its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Sirius XM in the 4th quarter worth approximately $57,124,000. Institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SIRI shares. Morgan Stanley boosted their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Evercore set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 1st. Guggenheim reaffirmed a “buy” rating and issued a $35.00 price target (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Sirius XM in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.92.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was 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 $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. This trade represents a 47.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.27% of the company’s stock.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $28.69 on Friday. The firm has a market capitalization of $9.67 billion, a P/E ratio of 11.48, a PEG ratio of 0.62 and a beta of 0.95. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $29.58 and a 200 day moving average price of $26.23. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66.

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

Sirius XM Announces Dividend

The business 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is presently 43.20%.

Sirius XM 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.