Canada Pension Plan Investment Board Makes New $1.53 Billion Investment in Sirius XM Holdings Inc. $SIRI

Canada Pension Plan Investment Board acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,636,215 shares of the company’s stock, valued at approximately $1,527,300,000. Sirius XM accounts for about 0.8% of Canada Pension Plan Investment Board’s holdings, making the stock its 21st biggest position. Canada Pension Plan Investment Board owned about 0.11% of Sirius XM as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Sirius XM in the fourth quarter worth $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock valued at $20,861,000 after purchasing an additional 92,111 shares during the period. Focus Partners Wealth boosted its position in shares of Sirius XM by 5.2% during the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after purchasing an additional 800 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in Sirius XM in the 2nd quarter valued at about $208,000. Institutional investors own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Finally, UBS Group set a $30.00 target price on shares of Sirius XM in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.92.

Insider Activity at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.27% of the stock is currently owned by corporate insiders.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.73 on Wednesday. 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 stock has a market cap of $9.68 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The stock’s fifty day simple moving average is $29.62 and its two-hundred day simple moving average is $26.39. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate 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 company earned $0.57 EPS. As a group, analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

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