Bank of New York Mellon Corp Sells 145,282 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Bank of New York Mellon Corp decreased its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 19.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 593,260 shares of the company's stock after selling 145,282 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.18% of Sirius XM worth $13,375,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Xponance Inc. raised its holdings in shares of Sirius XM by 4.5% in the 4th quarter. Xponance Inc. now owns 12,341 shares of the company's stock valued at $281,000 after purchasing an additional 527 shares during the period. Polianta Ltd raised its stake in Sirius XM by 1.5% in the first quarter. Polianta Ltd now owns 48,300 shares of the company's stock valued at $1,088,000 after buying an additional 700 shares during the period. Deseret Mutual Benefit Administrators raised its stake in Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after buying an additional 705 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Sirius XM by 5.9% in the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company's stock valued at $325,000 after buying an additional 791 shares during the last quarter. Finally, Northeast Financial Consultants Inc boosted its stake in shares of Sirius XM by 5.8% during the 4th quarter. Northeast Financial Consultants Inc now owns 16,035 shares of the company's stock worth $366,000 after acquiring an additional 885 shares during the period. Institutional investors own 10.69% of the company's stock.

Insider Buying and Selling

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

Sirius XM Price Performance

Shares of Sirius XM stock traded down $0.19 on Thursday, reaching $24.17. 2,347,582 shares of the stock were exchanged, compared to its average volume of 2,848,919. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $8.17 billion, a PE ratio of -3.71, a P/E/G ratio of 0.35 and a beta of 0.92. The firm's 50 day moving average is $22.74 and its 200-day moving average is $22.66. Sirius XM Holdings Inc. has a one year low of $18.69 and a one year high of $41.20.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. Sirius XM's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's dividend payout ratio is -16.56%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SIRI shares. Morgan Stanley increased their price target on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Barrington Research reissued an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, July 2nd. Finally, Rosenblatt Securities lowered their price target on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.50.

Sirius XM Company 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.