New York State Common Retirement Fund Sells 21,000 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

New York State Common Retirement Fund cut its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,686 shares of the company's stock after selling 21,000 shares during the period. New York State Common Retirement Fund's holdings in Sirius XM were worth $2,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SIRI. Berkshire Hathaway Inc increased its stake in shares of Sirius XM by 11.7% during 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 last quarter. Cambridge Investment Research Advisors Inc. increased its position in Sirius XM by 29.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company's stock worth $1,064,000 after buying an additional 10,876 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Sirius XM by 8.3% in the first quarter. Ninety One UK Ltd now owns 191,829 shares of the company's stock valued at $4,325,000 after buying an additional 14,718 shares during the period. Brighton Jones LLC purchased a new position in shares of Sirius XM during the 4th quarter valued at $622,000. Finally, Weitz Investment Management Inc. grew its stake in shares of Sirius XM by 16.1% during the 4th quarter. Weitz Investment Management Inc. now owns 1,465,500 shares of the company's stock worth $33,413,000 after acquiring an additional 203,501 shares during the period. 10.69% of the stock is owned by institutional investors.

Sirius XM Price Performance

Shares of SIRI stock opened at $23.91 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $8.08 billion, a PE ratio of -3.67, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. The firm's 50-day moving average is $22.59 and its two-hundred day moving average is $22.63. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $41.20.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued 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). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction dated 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 sale, the director directly owned 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 Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SIRI has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. 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. Guggenheim restated a "buy" rating and set a $29.00 price target on shares of Sirius XM in a research report on Thursday, June 26th. Wells Fargo & Company boosted 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, July 2nd. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Six equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.50.

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.

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