Sanibel Captiva Trust Company Inc. Buys Shares of 40,000 Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sanibel Captiva Trust Company Inc. acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the company’s stock, valued at approximately $113,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SIRI. International Assets Investment Management LLC boosted its position in shares of Sirius XM by 449.7% during the fourth quarter. International Assets Investment Management LLC now owns 13,320 shares of the company’s stock worth $73,000 after buying an additional 10,897 shares during the period. Cerity Partners LLC lifted its position in Sirius XM by 60.6% in the fourth quarter. Cerity Partners LLC now owns 37,357 shares of the company’s stock worth $205,000 after purchasing an additional 14,089 shares during the period. Fidelis Capital Partners LLC lifted its position in Sirius XM by 33.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 13,783 shares of the company’s stock worth $75,000 after purchasing an additional 3,453 shares during the period. abrdn plc lifted its position in Sirius XM by 100.1% in the fourth quarter. abrdn plc now owns 223,911 shares of the company’s stock worth $1,225,000 after purchasing an additional 111,991 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock worth $69,000 after purchasing an additional 2,139 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Up 2.8 %

Shares of SIRI traded up $0.09 during mid-day trading on Wednesday, reaching $3.34. The company’s stock had a trading volume of 21,782,654 shares, compared to its average volume of 25,502,092. The business has a fifty day moving average of $3.21 and a 200 day moving average of $3.49. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Sirius XM Holdings Inc. has a 1 year low of $2.45 and a 1 year high of $5.78.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.19%. Sirius XM’s payout ratio is currently 30.30%.

Analysts Set New Price Targets

A number of research firms have weighed in on SIRI. Citigroup downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 target price for the company. in a research report on Thursday, July 25th. Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Guggenheim cut their target price on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price target for the company from $4.25 to $3.25 in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.80.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the completion of the sale, the insider now directly owns 989,331 shares in the company, valued at $3,126,285.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the completion of the sale, the insider now directly owns 989,331 shares in the company, valued at $3,126,285.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the sale, the director now owns 169,309 shares of the company’s stock, valued at $440,203.40. The disclosure for this sale can be found here. Insiders sold 1,472,274 shares of company stock worth $4,638,616 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.