Jupiter Topco LLC Makes New $185.80 Million Investment in Sirius XM Holdings Inc. $SIRI

Jupiter Topco LLC purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,701,821 shares of the company’s stock, valued at approximately $185,797,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SIRI. Hsbc Holdings PLC acquired a new position in shares of Sirius XM during the 2nd quarter worth about $1,041,000. PDT Partners LLC bought a new position in Sirius XM during the second quarter worth about $4,911,000. Canada Pension Plan Investment Board acquired a new position in Sirius XM during the second quarter worth approximately $1,527,300,000. Legal & General Group Plc acquired a new position in Sirius XM during the second quarter worth approximately $238,990,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Sirius XM in the second quarter valued at approximately $1,048,227,000. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the company’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 transaction, the director directly owned 18,354 shares of the company’s stock, valued at $550,069.38. This represents a 47.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SIRI. Morgan Stanley raised their price objective on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Barrington Research increased their price target on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Citigroup reaffirmed a “sell” rating and set a $25.00 price target (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a research report on Friday, July 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued 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 stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $30.92.

Sirius XM Trading Down 0.8%

Shares of SIRI stock opened at $28.51 on Thursday. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a market capitalization of $9.61 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The firm has a 50 day moving average price of $29.63 and a two-hundred day moving average price of $26.43. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, July 30th. The company reported $0.70 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 analyst estimates 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 for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. As a group, analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were paid a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s payout ratio 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.