Raymond James Financial Services Advisors Inc. Reduces Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Raymond James Financial Services Advisors Inc. lowered its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.4% in the fourth quarter, HoldingsChannel reports. The firm owned 172,789 shares of the company’s stock after selling 15,802 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sirius XM were worth $945,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SIRI. HB Wealth Management LLC lifted its position in Sirius XM by 31.3% in the fourth quarter. HB Wealth Management LLC now owns 19,355 shares of the company’s stock valued at $106,000 after buying an additional 4,615 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Sirius XM during the fourth quarter worth approximately $27,000. Amplius Wealth Advisors LLC increased its holdings in shares of Sirius XM by 34.1% in the 4th quarter. Amplius Wealth Advisors LLC now owns 41,567 shares of the company’s stock valued at $227,000 after acquiring an additional 10,575 shares during the period. Gilman Hill Asset Management LLC acquired a new position in shares of Sirius XM in the 4th quarter valued at $108,000. Finally, Gateway Investment Advisers LLC grew its position in Sirius XM by 843.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 111,966 shares of the company’s stock valued at $612,000 after buying an additional 100,097 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Sirius XM Trading Down 0.9 %

Sirius XM stock opened at $3.18 on Tuesday. The stock has a market cap of $12.23 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The stock has a 50 day moving average of $4.18 and a 200-day moving average of $4.68. Sirius XM Holdings Inc. has a 52 week low of $3.15 and a 52 week high of $7.95.

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

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is currently 34.38%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SIRI. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. StockNews.com began coverage on shares of Sirius XM in a research report on Saturday. They set a “hold” rating for the company. Citigroup increased their target price on shares of Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company dropped their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $4.74.

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.