18,116 Shares in Sirius XM Holdings Inc. $SIRI Acquired by Commerce Bank

Commerce Bank purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,116 shares of the company’s stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its position in Sirius XM by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after buying an additional 340 shares during the period. Altshuler Shaham Ltd lifted its holdings in shares of Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Sirius XM by 33.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock valued at $55,000 after acquiring an additional 463 shares during the period. Geneos Wealth Management Inc. boosted its position 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 acquiring an additional 493 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Sirius XM by 5.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after acquiring an additional 509 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director directly owned 18,354 shares in the company, valued at $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.27% of the stock is owned by insiders.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.51 on Thursday. The stock has a fifty day moving average price of $29.63 and a 200-day moving average price of $26.43. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, August 10th. Sirius XM’s dividend payout ratio is presently 43.20%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SIRI. JPMorgan Chase & Co. raised their price target on shares of Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Citigroup reissued a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Evercore set a $28.00 target price on shares of Sirius XM in a report on Friday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $30.92.

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.