FNY Investment Advisers LLC Sells 59,997 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

FNY Investment Advisers LLC cut its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 44.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,020 shares of the company's stock after selling 59,997 shares during the period. Sirius XM accounts for approximately 1.0% of FNY Investment Advisers LLC's holdings, making the stock its 21st biggest holding. FNY Investment Advisers LLC's holdings in Sirius XM were worth $1,691,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Check Capital Management Inc. CA lifted its holdings in Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock valued at $26,123,000 after buying an additional 981,517 shares during the period. Berkshire Hathaway Inc lifted its stake in shares of Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock valued at $2,678,283,000 after purchasing an additional 12,313,544 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Sirius XM by 15.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 83,439 shares of the company's stock worth $1,902,000 after purchasing an additional 11,243 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Sirius XM by 58.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,618 shares of the company's stock worth $1,154,000 after purchasing an additional 18,720 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Sirius XM during the fourth quarter worth $1,725,000. Institutional investors own 10.69% of the company's stock.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the business's 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 now directly owns 15,471 shares of the company's stock, valued at $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.32% of the stock is currently owned by corporate insiders.

Sirius XM Stock Up 2.9%

SIRI stock traded up $0.61 during trading hours on Monday, reaching $21.90. 2,647,659 shares of the stock were exchanged, compared to its average volume of 5,127,496. The firm's 50-day moving average is $21.41 and its 200-day moving average is $22.85. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.60. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -3.42, a PEG ratio of 0.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Friday, May 9th. Sirius XM's dividend payout ratio is presently -16.56%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities cut their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.65.

About Sirius XM

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.