Dimensional Fund Advisors LP Buys 4,560,821 Shares of Sirius XM Holdings Inc. $SIRI

Dimensional Fund Advisors LP raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 262.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,301,181 shares of the company’s stock after purchasing an additional 4,560,821 shares during the quarter. Dimensional Fund Advisors LP owned 1.87% of Sirius XM worth $145,426,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Root Financial Partners LLC lifted its position in Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares in the last quarter. Rossby Financial LCC increased its holdings 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 worth $32,000 after acquiring an additional 593 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares during the last quarter. Jessup Wealth Management Inc acquired a new position in Sirius XM in the 4th quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Sirius XM during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SIRI shares. Rosenblatt Securities lowered their price target on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. 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. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Barrington Research upped their price target on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Evercore set a $28.00 price objective on Sirius XM in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.00.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were 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 in the company, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.27% of the stock is currently owned by insiders.

Sirius XM News Summary

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Sirius XM announced a new 24/7 WWE radio channel, replacing its current pro wrestling programming and expanding its sports/entertainment lineup ahead of SummerSlam. WWE partnering with SiriusXM to launch ‘WWE Radio’
• Positive Sentiment: The WWE partnership could help Sirius XM attract and retain subscribers by adding a popular, year-round fan channel and strengthening its exclusive content strategy. SiriusXM to launch 24/7 WWE Radio station
• Positive Sentiment: Analysts are noting that Sirius XM enters its upcoming earnings report with the potential for an earnings beat, which can support sentiment if management confirms improving fundamentals. Sirius XM (SIRI) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Management also announced a quarterly dividend of $0.27 per share, reinforcing Sirius XM’s appeal to income-focused investors.
• Neutral Sentiment: Additional coverage highlighted Sirius XM’s move to pick up two Pittsburgh radio stations, but the immediate stock impact is less clear than the WWE announcement. SiriusXM picking up 2 Pittsburgh radio stations
• Neutral Sentiment: Morgan Stanley also reportedly sees strong price appreciation potential for SIRI, adding to the bullish analyst backdrop. Morgan Stanley Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $29.80 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $31.42. The firm has a 50 day moving average price of $28.98 and a two-hundred day moving average price of $25.01. The stock has a market cap of $10.03 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.6%. Sirius XM’s dividend payout ratio (DPR) is presently 45.57%.

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.