Sirius XM Holdings Inc. (NASDAQ:SIRI) Holdings Decreased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,937 shares of the company’s stock after selling 5,000 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Sirius XM were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Trust Corp grew its holdings in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after acquiring an additional 1,776,700 shares during the period. Louisiana State Employees Retirement System acquired a new position in Sirius XM during the fourth quarter worth about $1,669,000. O Shaughnessy Asset Management LLC grew its holdings in Sirius XM by 16.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after acquiring an additional 3,495 shares during the period. TIAA Trust National Association grew its holdings in Sirius XM by 92.9% during the fourth quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock worth $218,000 after acquiring an additional 19,161 shares during the period. Finally, ING Groep NV acquired a new position in Sirius XM during the third quarter worth about $2,110,000. 10.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SIRI. Benchmark lowered 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. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Wells Fargo & Company dropped their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Finally, Barrington Research reissued an “outperform” rating and issued a $5.75 price target on shares of Sirius XM in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.75.

Sirius XM Price Performance

NASDAQ:SIRI opened at $2.94 on Wednesday. Sirius XM Holdings Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.95. The stock’s 50-day moving average is $3.78 and its two-hundred day moving average is $4.58. The stock has a market cap of $11.31 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Announces Dividend

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 3.62%. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was 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 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 this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM 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 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. Company insiders own 0.79% of the company’s stock.

Sirius XM 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.