GABELLI & Co INVESTMENT ADVISERS INC. Trims Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

GABELLI & Co INVESTMENT ADVISERS INC. reduced its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 91.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,454 shares of the company’s stock after selling 189,555 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Sirius XM were worth $398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA acquired a new position in Sirius XM in the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Sirius XM during the 4th quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Sirius XM by 574.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 1,144 shares during the period. Gables Capital Management Inc. purchased a new stake in Sirius XM during the fourth quarter worth $43,000. Finally, Avior Wealth Management LLC grew its position in Sirius XM by 670.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,080 shares of the company’s stock valued at $47,000 after buying an additional 1,810 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Stock Performance

SIRI opened at $20.42 on Wednesday. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The firm has a market capitalization of $6.92 billion, a PE ratio of -3.19, a PEG ratio of 0.79 and a beta of 0.98. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average price is $23.29 and its 200 day moving average price is $24.16.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Friday, February 7th. Sirius XM’s dividend payout ratio (DPR) is presently -16.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SIRI shares. Guggenheim decreased their price objective on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barrington Research set a $28.00 price target on Sirius XM in a report on Friday, January 31st. Morgan Stanley lowered their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Rosenblatt Securities decreased their target price on Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.81.

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.