Lecap Asset Management Ltd. Sells 188,318 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Lecap Asset Management Ltd. cut its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 48.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,838 shares of the company’s stock after selling 188,318 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Sirius XM were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Sirius XM by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after buying an additional 218,211 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sirius XM by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after acquiring an additional 143,185 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after acquiring an additional 768,570 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of Sirius XM stock in a transaction dated 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 completion of the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Sirius XM 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 sale, the insider now directly owns 989,331 shares in the company, valued at approximately $3,126,285.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristina Salen sold 12,518 shares of Sirius XM 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 completion of the sale, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The disclosure for this sale can be found here. Insiders sold a total of 1,472,274 shares of company stock valued at $4,638,616 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

SIRI has been the subject of several research reports. Wells Fargo & Company cut their target price on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Citigroup lowered shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 target price on the stock. in a report on Thursday, July 25th. Guggenheim decreased their target price on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and cut their price target for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price objective for the stock 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.80.

Sirius XM Price Performance

SIRI stock traded down $0.09 during midday trading on Thursday, hitting $3.18. The stock had a trading volume of 5,623,357 shares, compared to its average volume of 25,457,988. The business has a 50-day moving average of $3.22 and a two-hundred day moving average of $3.48. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Sirius XM Holdings Inc. has a 52-week low of $2.45 and a 52-week high of $5.78.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.35%. Sirius XM’s payout ratio is currently 30.30%.

About Sirius XM

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.