OMERS ADMINISTRATION Corp Makes New Investment in Sirius XM Holdings Inc. $SIRI

OMERS ADMINISTRATION Corp purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,053,566 shares of the company’s stock, valued at approximately $279,010,000. Sirius XM makes up about 1.7% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 13th biggest holding. OMERS ADMINISTRATION Corp owned 2.09% of Sirius XM at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new position in shares of Sirius XM in the 2nd quarter valued at $387,690,000. BlackRock Inc. raised its stake in Sirius XM by 82.9% during the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock worth $519,970,000 after buying an additional 7,977,045 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sirius XM during the 2nd quarter worth $180,538,000. Dimensional Fund Advisors LP lifted its holdings in Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after acquiring an additional 4,560,821 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Sirius XM during the second quarter worth about $145,468,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $28.69 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The stock’s 50-day moving average is $29.58 and its 200-day moving average is $26.28. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $2.16 billion for 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%.Sirius XM’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Equities analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share 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. Stockholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s payout ratio is currently 43.20%.

Insider Transactions at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their position. The SEC filing for this sale provides additional information. 3.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SIRI. Benchmark reissued a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of Sirius XM in a research report on Tuesday, July 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Sirius XM in a report on Friday, August 7th. Wells Fargo & Company boosted their price objective on Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Finally, Barrington Research increased their target price on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $30.92.

Sirius XM Company 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.