Hara Capital LLC Acquires Shares of 29,559 Sirius XM Holdings Inc. $SIRI

Hara Capital LLC bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,559 shares of the company’s stock, valued at approximately $1,181,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gables Capital Management Inc. acquired a new position in Sirius XM in the second quarter valued at approximately $32,000. Global Retirement Partners LLC acquired a new stake in shares of Sirius XM during the 2nd quarter worth approximately $32,000. Sunbelt Securities Inc. grew its stake in shares of Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares during the period. Root Financial Partners LLC increased its holdings in shares of Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of Sirius XM in the 1st quarter valued at $33,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIRI has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Sirius XM in a report on Tuesday, July 28th. Citigroup reiterated a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Bank of America reissued an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. UBS Group set a $30.00 price target on Sirius XM in a research note on Wednesday, July 29th. Finally, Morgan Stanley upped their price target on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.92.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.27% of the company’s stock.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.39 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $9.57 billion, a PE ratio of 11.36, a P/E/G ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The company has a fifty day moving average of $29.56 and a two-hundred day moving average of $26.22.

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 analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

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.