Pinebridge Investments L.P. Sells 253,639 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Pinebridge Investments L.P. trimmed its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIFree Report) by 63.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,527 shares of the company’s stock after selling 253,639 shares during the period. Pinebridge Investments L.P.’s holdings in Sirius XM were worth $785,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SIRI. GM Advisory Group LLC lifted its holdings in shares of Sirius XM by 10.0% in the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after purchasing an additional 2,000 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock worth $69,000 after purchasing an additional 2,139 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Sirius XM by 14.8% during the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock worth $93,000 after purchasing an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC increased its stake in Sirius XM by 9.6% in the 3rd quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after buying an additional 2,420 shares during the last quarter. 10.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, March 27th. StockNews.com assumed coverage on Sirius XM in a research note on Saturday. They set a “hold” rating on the stock. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Guggenheim assumed coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.33.

Get Our Latest Report on Sirius XM

Sirius XM Stock Performance

Shares of SIRI opened at $2.56 on Friday. The firm has a market cap of $9.85 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. Sirius XM Holdings Inc. has a 52 week low of $2.52 and a 52 week high of $7.95. The firm’s 50-day simple moving average is $3.06 and its 200 day simple moving average is $4.23.

Sirius XM (NASDAQ:SIRIGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were issued a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, May 9th. Sirius XM’s dividend payout ratio is currently 30.30%.

Insider Activity

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the sale, the director now owns 181,827 shares in the company, valued at approximately $476,386.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.

Sirius XM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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