Balentine LLC Reduces Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Balentine LLC trimmed its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 24.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,613 shares of the company’s stock after selling 14,090 shares during the quarter. Balentine LLC’s holdings in Sirius XM were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in Sirius XM during the 3rd quarter worth about $27,000. BKM Wealth Management LLC acquired a new stake in Sirius XM during the 4th quarter worth about $27,000. First United Bank & Trust acquired a new position in shares of Sirius XM in the 4th quarter valued at about $37,000. American National Bank acquired a new position in shares of Sirius XM in the 4th quarter valued at about $41,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Sirius XM in the 3rd quarter valued at about $47,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SIRI has been the subject of several analyst reports. Rosenblatt Securities decreased their price objective on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective for the company. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and reduced their price target for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Finally, StockNews.com assumed coverage on Sirius XM in a report on Thursday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.42.

Sirius XM Trading Down 2.5 %

NASDAQ:SIRI opened at $2.73 on Friday. The stock has a 50 day moving average of $3.33 and a two-hundred day moving average of $4.40. The firm has a market cap of $10.50 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.91 and a beta of 1.10. Sirius XM Holdings Inc. has a 12 month low of $2.72 and a 12 month high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, research analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.90%. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

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.