Clear Harbor Asset Management LLC Makes New Investment in Sirius XM Holdings Inc. $SIRI

Clear Harbor Asset Management LLC purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, HoldingsChannel reports. The firm purchased 24,206 shares of the company’s stock, valued at approximately $956,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. raised its holdings in Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its position in Sirius XM by 612.8% in 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 period. Gables Capital Management Inc. bought a new position in Sirius XM during the 2nd quarter valued at $32,000. Global Retirement Partners LLC bought a new position in Sirius XM during the 2nd quarter valued at $32,000. Finally, Rossby Financial LCC increased its position in shares of Sirius XM by 57.7% during the 4th 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. 10.69% of the stock is currently owned by institutional investors.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction dated 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 approximately $550,069.38. The trade was a 47.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.27% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.69 on Friday. The company has a market capitalization of $9.67 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a fifty day moving average of $29.58 and a 200-day moving average of $26.23. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its 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 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 business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. As a group, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

Analyst Ratings Changes

A number of research firms have recently commented on SIRI. Bank of America reissued an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Citigroup reaffirmed a “sell” rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. Wells Fargo & Company upped their price target on shares of Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $30.92.

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.