New South Capital Management Inc. Has $1.10 Million Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

New South Capital Management Inc. trimmed its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,603 shares of the company's stock after selling 17,973 shares during the quarter. New South Capital Management Inc.'s holdings in Sirius XM were worth $1,096,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc boosted its stake in Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after purchasing an additional 12,313,544 shares during the period. LSV Asset Management acquired a new stake in shares of Sirius XM in the fourth quarter worth $51,535,000. Norges Bank acquired a new stake in shares of Sirius XM in the fourth quarter worth $28,269,000. Toronto Dominion Bank purchased a new position in shares of Sirius XM during the fourth quarter valued at $22,398,000. Finally, Ensign Peak Advisors Inc purchased a new stake in Sirius XM in the 4th quarter worth about $19,052,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SIRI has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday. Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 2nd. Guggenheim reiterated a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research report on Thursday, June 26th. 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. Finally, Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.42.

Sirius XM Stock Performance

Shares of Sirius XM stock traded up $0.44 on Thursday, reaching $24.39. The stock had a trading volume of 2,624,869 shares, compared to its average volume of 4,895,458. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $41.60. The business's 50-day moving average price is $21.99 and its two-hundred day moving average price is $22.53. 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 $8.24 billion, a P/E ratio of -3.74, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share 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 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 was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. On average, sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is currently -16.56%.

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.