Sirius XM Holdings Inc. $SIRI Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 39.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,796 shares of the company’s stock after selling 26,645 shares during the quarter. DAVENPORT & Co LLC’s holdings in Sirius XM were worth $950,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new position in shares of Sirius XM in the third quarter worth $33,000. Quaker Wealth Management LLC raised its stake in shares of Sirius XM by 214.7% in the second quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after acquiring an additional 3,001 shares in the last quarter. True Wealth Design LLC boosted its holdings in Sirius XM by 47.8% in the second quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after purchasing an additional 523 shares during the period. Geneos Wealth Management Inc. grew its stake in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Sirius XM during the 2nd quarter worth $44,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Down 0.3%

SIRI stock opened at $20.60 on Monday. The stock has a market cap of $6.93 billion, a P/E ratio of 7.28, a PEG ratio of 0.31 and a beta of 0.92. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.78. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $27.41. The company’s 50 day moving average is $21.38 and its two-hundred day moving average is $22.33.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, October 30th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted ($8.74) EPS. The company’s revenue was down .6% on a year-over-year basis. Research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Wednesday, November 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, November 5th. Sirius XM’s payout ratio is presently 38.16%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SIRI shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Monday, December 1st. JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a report on Monday, November 3rd. Benchmark reissued a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Sirius XM in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.29.

Insider Activity

In related news, Director Kristina Salen sold 1,845 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $21.64, for a total value of $39,925.80. Following the completion of the sale, the director directly owned 19,969 shares of the company’s stock, valued at $432,129.16. This represents a 8.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.