Successful Portfolios LLC Decreases Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Successful Portfolios LLC reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,240 shares of the company’s stock after selling 2,685 shares during the quarter. Successful Portfolios LLC’s holdings in Sirius XM were worth $61,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Sirius XM by 482.9% during the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after buying an additional 12,129,166 shares during the last quarter. Berkshire Hathaway Inc bought a new position in shares of Sirius XM during the 3rd quarter worth approximately $43,768,000. New York State Common Retirement Fund lifted its position in shares of Sirius XM by 169.6% during the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after acquiring an additional 6,482,109 shares during the period. Norges Bank acquired a new position in Sirius XM during the 4th quarter worth approximately $31,127,000. Finally, State Street Corp raised its position in shares of Sirius XM by 18.1% during the second quarter. State Street Corp now owns 28,762,745 shares of the company’s stock worth $130,295,000 after acquiring an additional 4,411,282 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Down 0.5 %

Shares of NASDAQ:SIRI traded down $0.02 during midday trading on Thursday, hitting $3.88. 11,948,294 shares of the stock traded hands, compared to its average volume of 14,009,224. The business’s 50 day moving average is $4.67 and its two-hundred day moving average is $4.74. The stock has a market capitalization of $14.91 billion, a PE ratio of 12.19, a P/E/G ratio of 1.31 and a beta of 1.05. Sirius XM Holdings Inc. has a one year low of $3.32 and a one year high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.0266 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 2.74%. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Analyst Ratings Changes

A number of analysts have issued reports on SIRI shares. Citigroup raised their target price on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price target (down previously from $5.00) on shares of Sirius XM in a research note on Tuesday, January 23rd. StockNews.com initiated coverage on Sirius XM in a research note on Thursday. They set a “hold” rating on the stock. Guggenheim started coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Finally, Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.84.

Insider Buying and Selling

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

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.