New York State Common Retirement Fund Trims Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

New York State Common Retirement Fund lessened its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 61.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,923,905 shares of the company’s stock after selling 6,379,581 shares during the period. New York State Common Retirement Fund owned about 0.10% of Sirius XM worth $21,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SIRI. AE Wealth Management LLC increased its holdings in Sirius XM by 9.2% during the 3rd quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after purchasing an additional 7,837 shares during the period. Exchange Traded Concepts LLC purchased a new position in Sirius XM during the 3rd quarter valued at about $282,000. Handelsbanken Fonder AB grew its holdings in shares of Sirius XM by 16.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after acquiring an additional 19,832 shares during the period. Clarius Group LLC purchased a new position in shares of Sirius XM during the 3rd quarter worth approximately $52,000. Finally, Balboa Wealth Partners purchased a new position in shares of Sirius XM during the 3rd quarter worth approximately $300,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Transactions at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Sirius XM Stock Performance

Shares of SIRI opened at $3.02 on Friday. The firm has a market cap of $11.62 billion, a PE ratio of 9.44, a P/E/G ratio of 1.02 and a beta of 1.04. The firm has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $4.60. Sirius XM Holdings Inc. has a 1-year low of $2.97 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating 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 net margin of 14.05% and a negative return on equity of 42.54%. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 0.29 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business 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 dividend on an annualized basis and a yield of 3.52%. Sirius XM’s dividend payout ratio is presently 34.38%.

Analysts Set New Price Targets

A number of research firms have weighed in on SIRI. Benchmark reduced their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $4.10 to $3.30 in a report on Wednesday. Guggenheim began coverage on Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. Wells Fargo & Company reduced their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and dropped their price target for the stock from $5.05 to $4.90 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.67.

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.