Los Angeles Capital Management LLC decreased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 99.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,025 shares of the company’s stock after selling 4,400,273 shares during the period. Los Angeles Capital Management LLC’s holdings in Sirius XM were worth $170,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in shares of Sirius XM by 8.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 690,875 shares of the company’s stock worth $4,500,000 after acquiring an additional 55,173 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Sirius XM by 9.3% in the second quarter. Teacher Retirement System of Texas now owns 133,684 shares of the company’s stock worth $874,000 after acquiring an additional 11,370 shares during the last quarter. Sargent Investment Group LLC acquired a new stake in shares of Sirius XM in the second quarter worth $75,000. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Sirius XM in the second quarter worth $4,185,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Sirius XM in the second quarter worth $342,000. Institutional investors and hedge funds own 13.46% of the company’s stock.
Shares of NASDAQ SIRI opened at $6.03 on Wednesday. The stock has a market cap of $24.42 billion, a PE ratio of 120.60, a PEG ratio of 1.66 and a beta of 1.06. The business has a fifty day moving average of $6.32 and a two-hundred day moving average of $6.27. Sirius XM Holdings Inc. has a 52-week low of $4.95 and a 52-week high of $8.14.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 30th. Investors of record on Friday, August 6th were issued a $0.0146 dividend. The ex-dividend date was Thursday, August 5th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.97%. Sirius XM’s dividend payout ratio is 24.00%.
Sirius XM announced that its Board of Directors has approved a share buyback program on Monday, July 19th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
SIRI has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Sirius XM from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Barrington Research reaffirmed a “buy” rating and issued a $8.00 target price on shares of Sirius XM in a research report on Thursday, July 29th. Pivotal Research raised their target price on Sirius XM from $7.75 to $8.25 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Citigroup raised their target price on Sirius XM from $6.75 to $7.65 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Sirius XM from $7.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Buy” and a consensus target price of $7.59.
In related news, insider Scott Andrew Greenstein sold 214,948 shares of Sirius XM stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $6.62, for a total value of $1,422,955.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.93% of the company’s stock.
About Sirius XM
Sirius XM Holdings, Inc is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, and SiriusXM Marine.
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