Gabelli Funds LLC Decreases Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Gabelli Funds LLC decreased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRIFree Report) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 536,000 shares of the company’s stock after selling 60,000 shares during the quarter. Gabelli Funds LLC’s holdings in Sirius XM were worth $2,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SIRI. BlackRock Inc. lifted its stake in Sirius XM by 1.5% in the first quarter. BlackRock Inc. now owns 55,856,344 shares of the company’s stock worth $221,750,000 after acquiring an additional 839,408 shares during the last quarter. State Street Corp lifted its stake in Sirius XM by 18.1% in 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. Northern Trust Corp lifted its stake in Sirius XM by 22.6% in the first quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock worth $86,779,000 after acquiring an additional 2,413,360 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sirius XM by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 10,457,380 shares of the company’s stock worth $61,071,000 after acquiring an additional 556,279 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Sirius XM by 169.6% in the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock worth $46,572,000 after acquiring an additional 6,482,109 shares during the last quarter. Hedge funds and other institutional investors own 10.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Seaport Res Ptn cut shares of Sirius XM from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Wells Fargo & Company reissued an “underweight” rating and set a $4.50 price objective (down previously from $5.00) on shares of Sirius XM in a report on Tuesday, January 23rd. Benchmark reissued a “buy” rating and set a $7.00 price objective on shares of Sirius XM in a report on Wednesday, December 13th. StockNews.com assumed coverage on shares of Sirius XM in a report on Friday. They set a “hold” rating on the stock. Finally, Citigroup raised their price objective on shares of Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a report on Friday, January 12th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.98.

Check Out Our Latest Stock Report on Sirius XM

Sirius XM Stock Performance

Shares of SIRI opened at $4.90 on Friday. The stock has a market capitalization of $18.83 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.71 and a beta of 1.09. The company’s fifty day moving average is $5.25 and its two-hundred day moving average is $4.79. Sirius XM Holdings Inc. has a 1 year low of $3.32 and a 1 year high of $7.95.

Sirius XM (NASDAQ:SIRIGet Free Report) last announced 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. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Sell-side analysts predict that Sirius XM Holdings Inc. will post 0.3 EPS for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.0266 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.11 annualized dividend and a dividend yield of 2.17%. Sirius XM’s payout ratio is currently 34.38%.

About Sirius XM

(Free Report)

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.

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

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