Pacer Advisors Inc. Acquires Shares of 1,727,827 Sirius XM Holdings Inc. $SIRI

Pacer Advisors Inc. purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,727,827 shares of the company’s stock, valued at approximately $34,548,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC grew its holdings in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares in the last quarter. Jessup Wealth Management Inc purchased a new stake in Sirius XM during the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sirius XM during the 4th quarter worth approximately $40,000. Geneos Wealth Management Inc. increased its position in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in Sirius XM by 31.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 2,625 shares of the company’s stock worth $52,000 after acquiring an additional 627 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SIRI. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Guggenheim reissued a “buy” rating on shares of Sirius XM in a research note on Wednesday. Citigroup restated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Finally, Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.45.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.03 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market cap of $9.44 billion, a PE ratio of 11.83, a P/E/G ratio of 0.60 and a beta of 0.96. The stock’s 50-day moving average is $27.05 and its 200 day moving average is $23.45. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $30.11.

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

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 3.9%. Sirius XM’s dividend payout ratio is currently 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.