Raymond James & Associates Sells 5,260 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Raymond James & Associates trimmed its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,343 shares of the company’s stock after selling 5,260 shares during the period. Raymond James & Associates’ holdings in Sirius XM were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of Sirius XM by 1.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after acquiring an additional 1,845 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Sirius XM by 15.3% in the 1st quarter. Perigon Wealth Management LLC now owns 20,924 shares of the company’s stock valued at $83,000 after buying an additional 2,779 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Sirius XM by 20.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,881 shares of the company’s stock valued at $103,000 after buying an additional 2,898 shares in the last quarter. Harbour Investments Inc. boosted its stake in Sirius XM by 16.4% in the 1st quarter. Harbour Investments Inc. now owns 23,410 shares of the company’s stock valued at $93,000 after buying an additional 3,305 shares in the last quarter. Finally, MAI Capital Management raised its position in Sirius XM by 17.0% in the 1st quarter. MAI Capital Management now owns 24,636 shares of the company’s stock valued at $98,000 after purchasing an additional 3,587 shares during the last quarter. 10.50% of the stock is owned by institutional investors.

Sirius XM Stock Up 6.5 %

Shares of Sirius XM stock opened at $4.95 on Friday. Sirius XM Holdings Inc. has a 12 month low of $3.32 and a 12 month high of $7.95. The business has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $4.28. The stock has a market cap of $19.02 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.96 and a beta of 1.03.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Tuesday, October 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Sirius XM had a negative return on equity of 40.30% and a net margin of 14.20%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Analysts expect that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 7th will be paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 2.15%. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date is Monday, November 6th. Sirius XM’s payout ratio is presently 31.25%.

Analyst Ratings Changes

Several equities analysts have issued reports on SIRI shares. Bank of America cut their price objective on Sirius XM from $5.50 to $4.50 in a research report on Wednesday, September 27th. Seaport Res Ptn downgraded Sirius XM from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Wells Fargo & Company lifted their price objective on Sirius XM from $4.75 to $5.50 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Rosenblatt Securities boosted their target price on Sirius XM from $4.10 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Finally, Benchmark boosted their target price on Sirius XM from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.02.

Insider Transactions at Sirius XM

In other news, CEO Jennifer C. Witz acquired 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average cost of $4.11 per share, for a total transaction of $1,027,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,812,000 shares in the company, valued at $11,557,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

About Sirius XM

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.