Man Group plc Takes $13.80 Million Position in Sirius XM Holdings Inc. $SIRI

Man Group plc acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 348,943 shares of the company’s stock, valued at approximately $13,800,000. Man Group plc owned approximately 0.10% of Sirius XM as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new position in shares of Sirius XM in the second quarter valued at approximately $1,527,300,000. The Manufacturers Life Insurance Company bought a new stake in Sirius XM during the 2nd quarter worth approximately $1,048,227,000. BlackRock Inc. lifted its stake in Sirius XM by 82.9% in the 2nd 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. Bank of Nova Scotia bought a new position in Sirius XM in the 2nd quarter valued at $387,690,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Sirius XM during the 2nd quarter valued at $279,010,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Down 0.0%

Shares of SIRI stock opened at $28.50 on Friday. 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 business has a 50-day moving average price of $29.64 and a two-hundred day moving average price of $26.48. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The firm has a market cap of $9.61 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.57 earnings per share. Equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Citigroup restated a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sirius XM in a report on Tuesday, July 28th. Guggenheim reissued a “buy” rating and set a $35.00 price objective (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Finally, UBS Group set a $30.00 price objective on shares of Sirius XM in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.92.

Insider Buying and Selling at Sirius XM

In other news, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.27% of the company’s stock.

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.