Janney Montgomery Scott LLC Trims Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Janney Montgomery Scott LLC reduced its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 9.8% in the third quarter, Holdings Channel reports. The institutional investor owned 73,867 shares of the company’s stock after selling 8,038 shares during the period. Janney Montgomery Scott LLC’s holdings in Sirius XM were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Sirius XM in the second quarter worth $26,000. Coston McIsaac & Partners purchased a new stake in shares of Sirius XM in the second quarter worth $28,000. TimeScale Financial Inc. increased its stake in shares of Sirius XM by 510.7% in the third quarter. TimeScale Financial Inc. now owns 6,400 shares of the company’s stock worth $37,000 after purchasing an additional 5,352 shares in the last quarter. First Business Financial Services Inc. purchased a new stake in shares of Sirius XM in the second quarter worth $61,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Sirius XM in the second quarter worth $62,000. 10.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SIRI shares. Pivotal Research cut their target price on shares of Sirius XM from $7.10 to $6.75 in a research note on Wednesday, November 2nd. StockNews.com started coverage on shares of Sirius XM in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group cut their target price on shares of Sirius XM from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, January 12th. Morgan Stanley cut their target price on shares of Sirius XM from $6.50 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, October 19th. Finally, Citigroup cut shares of Sirius XM from a “buy” rating to a “sell” rating and cut their target price for the company from $7.00 to $6.00 in a research note on Thursday, December 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.63.

Sirius XM Stock Up 0.7 %

SIRI stock opened at $5.88 on Tuesday. Sirius XM Holdings Inc. has a 52 week low of $5.69 and a 52 week high of $6.88. The company has a fifty day simple moving average of $6.08 and a two-hundred day simple moving average of $6.18. The firm has a market capitalization of $22.87 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95.

Sirius XM (NASDAQ:SIRIGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). Sirius XM had a net margin of 12.95% and a negative return on equity of 35.97%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.27 billion. As a group, analysts anticipate that Sirius XM Holdings Inc. will post 0.29 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Friday, November 11th were given a dividend of $0.024 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.10 annualized dividend and a yield of 1.63%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.02. Sirius XM’s dividend payout ratio (DPR) is 34.48%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 44,670 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $6.46, for a total value of $288,568.20. Following the completion of the sale, the director now owns 93,969 shares in the company, valued at approximately $607,039.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.

Sirius XM Company Profile

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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