Sirius XM Holdings Inc. (NASDAQ:SIRI) Holdings Decreased by Arizona State Retirement System

Arizona State Retirement System decreased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,351 shares of the company’s stock after selling 5,612 shares during the period. Arizona State Retirement System’s holdings in Sirius XM were worth $1,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Sirius XM during the 1st quarter worth about $25,000. Putney Financial Group LLC bought a new position in Sirius XM during the fourth quarter valued at about $27,000. Deseret Mutual Benefit Administrators increased its stake in Sirius XM by 79.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company’s stock valued at $36,000 after acquiring an additional 705 shares during the period. Itau Unibanco Holding S.A. grew its stake in shares of Sirius XM by 255.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company’s stock valued at $42,000 after purchasing an additional 1,321 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Sirius XM by 3,263.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company’s stock valued at $46,000 after purchasing an additional 1,958 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Price Performance

SIRI stock opened at $23.56 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 firm has a market cap of $7.96 billion, a price-to-earnings ratio of -3.61, a PEG ratio of 0.34 and a beta of 0.92. The company’s fifty day simple moving average is $22.59 and its 200 day simple moving average is $22.62. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $41.20.

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

Analyst Ratings Changes

SIRI has been the topic of several research reports. Guggenheim reaffirmed a “buy” rating and set a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Morgan Stanley raised their price objective on Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 2nd. Wells Fargo & Company increased their target price on Sirius XM from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, July 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling

In related news, Director Kristina Salen sold 1,651 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the transaction, the director directly owned 15,471 shares of the company’s stock, valued at approximately $344,539.17. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.32% of the company’s stock.

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.