Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Sold by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management Inc. reduced its holdings in Sirius XM Holdings Inc. by 49.6%, selling 87,165 shares during the first quarter, leaving them with a total of 88,415 shares, valued at approximately $2,039,000.
• Sirius XM recently reported earnings showing $0.59 earnings per share, which missed the consensus estimate of $0.70, as quarterly revenue declined by 4.3% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, with an annualized dividend yield of 4.58%, set to be paid on August 27th to shareholders of record.

Bastion Asset Management Inc. decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 49.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,415 shares of the company's stock after selling 87,165 shares during the quarter. Bastion Asset Management Inc.'s holdings in Sirius XM were worth $2,039,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC raised its stake in shares of Sirius XM by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock valued at $220,000 after acquiring an additional 475 shares in the last quarter. Xponance Inc. raised its position in Sirius XM by 4.5% during 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 in the last quarter. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Sirius XM by 5.5% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock worth $286,000 after buying an additional 660 shares during the period. Polianta Ltd lifted its holdings in shares of Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company's stock worth $1,088,000 after buying an additional 700 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Sirius XM by 79.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after buying an additional 705 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SIRI. Barrington Research reiterated an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating and issued a $29.00 price objective on shares of Sirius XM in a research note on Thursday, June 26th. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Rosenblatt Securities dropped their price objective on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley raised their price target on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sirius XM currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Sirius XM Stock Performance

NASDAQ SIRI traded down $0.13 during trading hours on Monday, reaching $23.45. The stock had a trading volume of 2,967,273 shares, compared to its average volume of 2,788,677. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $36.90. The stock has a fifty day moving average of $22.76 and a 200 day moving average of $22.68. 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 stock has a market cap of $7.92 billion, a P/E ratio of -3.60, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Sell-side analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 4.61%. Sirius XM's dividend payout ratio is presently -16.56%.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 1,651 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director directly owned 15,471 shares of the company's stock, valued at $344,539.17. This represents a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.79% 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.