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

Envestnet Asset Management Inc. lowered its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,229 shares of the company's stock after selling 183,198 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Sirius XM worth $5,100,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Penserra Capital Management LLC grew its position in shares of Sirius XM by 22.7% during the 1st quarter. Penserra Capital Management LLC now owns 140,109 shares of the company's stock valued at $3,158,000 after purchasing an additional 25,925 shares in the last quarter. Straight Path Wealth Management bought a new stake in Sirius XM in the first quarter worth $226,000. Teacher Retirement System of Texas increased its position in shares of Sirius XM by 298.8% in the first quarter. Teacher Retirement System of Texas now owns 81,045 shares of the company's stock valued at $1,827,000 after acquiring an additional 60,723 shares during the period. Lodestone Wealth Management LLC purchased a new position in shares of Sirius XM in the first quarter valued at about $358,000. Finally, DAVENPORT & Co LLC increased its position in shares of Sirius XM by 2.9% in the first quarter. DAVENPORT & Co LLC now owns 75,156 shares of the company's stock valued at $1,694,000 after acquiring an additional 2,118 shares during the period. Hedge funds and other institutional investors own 10.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SIRI shares. Guggenheim restated a "buy" rating and issued a $29.00 price objective on shares of Sirius XM in a research report on Thursday, June 26th. Rosenblatt Securities reduced their price target on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock 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 report on Tuesday, April 8th. Barrington Research reiterated an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 2nd. Six research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.50.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 1,651 shares of the business'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 transaction of $36,767.77. Following the completion of the sale, the director owned 15,471 shares in the company, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is currently owned by company insiders.

Sirius XM Price Performance

Shares of Sirius XM stock traded down $0.59 during trading hours on Friday, reaching $23.58. 3,088,899 shares of the company's stock were exchanged, compared to its average volume of 2,860,783. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $40.20. The company has a market capitalization of $7.97 billion, a P/E ratio of -3.62, a price-to-earnings-growth ratio of 0.35 and a beta of 0.92. The business has a fifty day moving average of $22.74 and a two-hundred day moving average of $22.66. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 positive return on equity of 6.77% and a negative net margin of 25.00%. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, research analysts predict 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 will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be issued a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 4.58%. Sirius XM's dividend payout ratio (DPR) is -16.56%.

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.