Raymond James & Associates Cuts Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Raymond James & Associates reduced its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 180,600 shares of the company’s stock after selling 9,780 shares during the period. Raymond James & Associates’ holdings in Sirius XM were worth $988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SIRI. PNC Financial Services Group Inc. raised its stake in shares of Sirius XM by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after purchasing an additional 1,845 shares during the last quarter. Kestra Advisory Services LLC raised its position in Sirius XM by 4.7% in the 2nd quarter. Kestra Advisory Services LLC now owns 49,363 shares of the company’s stock worth $224,000 after buying an additional 2,238 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC lifted its stake in Sirius XM by 9.6% during the 3rd quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after acquiring an additional 2,420 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Sirius XM by 12.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 23,313 shares of the company’s stock valued at $105,000 after acquiring an additional 2,583 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Sirius XM by 2.4% in the third quarter. Bank of Nova Scotia now owns 122,871 shares of the company’s stock worth $555,000 after acquiring an additional 2,826 shares during the period. 10.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SIRI. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup raised their price target on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research note on Friday, January 12th. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock. Finally, StockNews.com initiated coverage on Sirius XM in a research note on Sunday. They set a “hold” rating for the company. Three 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.com, Sirius XM has a consensus rating of “Hold” and an average price target of $4.74.

Insider Buying and Selling

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

Sirius XM Trading Up 1.0 %

NASDAQ SIRI opened at $3.09 on Monday. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.05 and a beta of 1.04. Sirius XM Holdings Inc. has a 12 month low of $3.04 and a 12 month high of $7.95. The company’s 50 day moving average is $4.03 and its two-hundred day moving average is $4.65.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 3.44%. The ex-dividend date was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is presently 31.25%.

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.