Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,298 shares of the company’s stock after selling 1,999 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sirius XM were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SIRI. Brighton Jones LLC acquired a new position in Sirius XM in the 4th quarter valued at $622,000. Truist Financial Corp purchased a new stake in shares of Sirius XM in the fourth quarter valued at approximately $253,000. Private Advisor Group LLC purchased a new stake in shares of Sirius XM in the fourth quarter valued at approximately $237,000. Proficio Capital Partners LLC grew its position in shares of Sirius XM by 259.2% in the fourth quarter. Proficio Capital Partners LLC now owns 48,375 shares of the company’s stock valued at $1,103,000 after purchasing an additional 34,908 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Sirius XM by 191.6% in the fourth quarter. Jones Financial Companies Lllp now owns 12,528 shares of the company’s stock valued at $286,000 after purchasing an additional 8,232 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SIRI shares. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Rosenblatt Securities dropped their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company upped their price objective on Sirius XM from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $28.00 price objective on shares of Sirius XM in a report on Friday, May 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.42.

Sirius XM Stock Up 1.8%

NASDAQ:SIRI opened at $24.39 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average is $21.99 and its two-hundred day moving average is $22.53. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $41.60. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of -3.74, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, May 9th. Sirius XM’s payout ratio is currently -16.56%.

Insider Activity

In other news, Director Kristina Salen sold 1,651 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the sale, the director directly owned 15,471 shares in the company, valued at approximately $344,539.17. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.32% 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.