Sanibel Captiva Trust Company Inc. Invests $113,000 in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sanibel Captiva Trust Company Inc. acquired a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,000 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors have also recently modified their holdings of the company. First United Bank & Trust purchased a new position in Sirius XM during the fourth quarter valued at approximately $37,000. TFO Wealth Partners LLC raised its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after acquiring an additional 7,028 shares in the last quarter. American National Bank purchased a new position in Sirius XM during the fourth quarter valued at approximately $41,000. V Square Quantitative Management LLC raised its position in Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares in the last quarter. Finally, First PREMIER Bank purchased a new position in Sirius XM during the first quarter valued at approximately $31,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Trading Up 2.8 %

NASDAQ SIRI traded up $0.09 on Wednesday, reaching $3.34. 21,782,654 shares of the company were exchanged, compared to its average volume of 25,502,092. Sirius XM Holdings Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $5.78. The business’s fifty day moving average price is $3.21 and its 200 day moving average price is $3.49. The stock has a market capitalization of $12.85 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08.

Sirius XM Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SIRI shares. Deutsche Bank Aktiengesellschaft reduced their price target on Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Barrington Research restated an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a research report on Monday, July 15th. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.80.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total value of $32,797.16. Following the transaction, the director now owns 181,827 shares of the company’s stock, valued at approximately $476,386.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the sale, the insider now owns 989,331 shares in the company, valued at approximately $3,126,285.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the sale, the director now owns 181,827 shares in the company, valued at approximately $476,386.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,472,274 shares of company stock valued at $4,638,616 in the last quarter. Insiders own 0.79% of the company’s stock.

Sirius XM Company 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.