Readystate Asset Management LP Sells 397,674 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Readystate Asset Management LP decreased its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 34.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 755,948 shares of the company’s stock after selling 397,674 shares during the period. Readystate Asset Management LP’s holdings in Sirius XM were worth $4,135,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. BKM Wealth Management LLC bought a new stake in Sirius XM during the fourth quarter worth about $27,000. Truvestments Capital LLC purchased a new position in shares of Sirius XM in the third quarter worth about $27,000. Hibernia Wealth Partners LLC purchased a new position in shares of Sirius XM in the third quarter worth about $30,000. First United Bank & Trust purchased a new position in shares of Sirius XM in the fourth quarter worth about $37,000. Finally, TFO Wealth Partners LLC increased its holdings in shares of Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares during the period. Institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

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

Sirius XM Stock Performance

Shares of SIRI traded down $0.05 during mid-day trading on Wednesday, reaching $3.10. The company had a trading volume of 14,152,476 shares, compared to its average volume of 14,958,619. The firm has a 50-day moving average price of $4.10 and a 200 day moving average price of $4.66. Sirius XM Holdings Inc. has a 52 week low of $3.08 and a 52 week high of $7.95. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04.

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

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $0.0266 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.11 annualized dividend and a yield of 3.43%. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

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.