SG Americas Securities LLC Decreases Position in Sirius XM Holdings Inc. $SIRI

Key Points

• SG Americas Securities LLC cut its Sirius XM position by 97% in the first quarter, selling 149,424 shares and leaving it with 4,654 shares valued at about $107,000.
• Sirius XM’s latest earnings beat Wall Street expectations, reporting $0.72 EPS on revenue of $2.09 billion, both slightly above estimates.
• The company also announced a quarterly dividend of $0.27 per share (3.5% annualized yield), while analyst sentiment remains mixed with a consensus Hold rating and average price target of $27.45.

SG Americas Securities LLC decreased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 97.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,654 shares of the company's stock after selling 149,424 shares during the period. SG Americas Securities LLC's holdings in Sirius XM were worth $107,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rossby Financial LCC raised its stake in shares of Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company's stock worth $32,000 after buying an additional 593 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sirius XM in the 4th quarter worth about $40,000. Jessup Wealth Management Inc acquired a new stake in Sirius XM in the 4th quarter valued at about $40,000. Geneos Wealth Management Inc. grew its stake in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock valued at $41,000 after acquiring an additional 493 shares during the last quarter. Finally, PeakShares LLC acquired a new stake in Sirius XM in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $30.67 on Tuesday. The firm has a 50 day simple moving average of $28.28 and a 200-day simple moving average of $24.39. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $10.32 billion, a PE ratio of 12.94, a P/E/G ratio of 0.66 and a beta of 0.95. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $31.42.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. Sirius XM's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. Sirius XM's dividend payout ratio (DPR) is 45.57%.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares of the company's stock, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup restated a "sell" rating and set a $22.00 target price (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Evercore set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 1st. Weiss Ratings raised shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Sirius XM from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Barrington Research lifted their price objective on Sirius XM from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Sirius XM has an average rating of "Hold" and a consensus price target of $27.45.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM's offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.

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