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 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,020 shares of the company's stock after selling 59,997 shares during the period. Sirius XM accounts for 1.0% of FNY Investment Advisers LLC's portfolio, making the stock its 21st biggest position. FNY Investment Advisers LLC's holdings in Sirius XM were worth $1,691,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Xponance Inc. increased its stake in shares of Sirius XM by 4.5% during the fourth quarter. Xponance Inc. now owns 12,341 shares of the company's stock valued at $281,000 after buying an additional 527 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Sirius XM by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company's stock valued at $339,000 after buying an additional 630 shares during the period. Wealthspire Advisors LLC boosted its position in shares of Sirius XM by 4.3% during the fourth quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company's stock valued at $358,000 after purchasing an additional 643 shares in the last quarter. Polianta Ltd boosted its position in shares of Sirius XM by 1.5% during the first quarter. Polianta Ltd now owns 48,300 shares of the company's stock valued at $1,088,000 after purchasing an additional 700 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of Sirius XM by 5.9% during the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company's stock valued at $325,000 after purchasing an additional 791 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SIRI. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Rosenblatt Securities dropped their price target 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, Barrington Research restated an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Six analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sirius XM has an average rating of "Hold" and a consensus target price of $26.65.

Insider Activity

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the transaction, the director now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.32% of the company's stock.

Sirius XM Price Performance

Sirius XM stock traded up $0.04 during midday trading on Thursday, reaching $21.49. 2,717,053 shares of the stock traded hands, compared to its average volume of 5,105,355. The stock's fifty day moving average is $21.49 and its 200-day moving average is $22.80. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.60. The stock has a market cap of $7.26 billion, a P/E ratio of -3.30, a PEG ratio of 0.30 and a beta of 0.91. 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 announced its quarterly earnings results on Thursday, May 1st. The company reported $0.59 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 negative net margin of 25.00% and a positive return on equity of 6.77%. Sirius XM's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Friday, May 9th. Sirius XM's payout ratio 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.