Sirius XM Holdings Inc. $SIRI Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC trimmed its Sirius XM stake by 8.8% in Q3, selling 54,000 shares and finishing the quarter with 560,882 shares (about 0.17% of the company) valued at roughly $13.06 million.
• Other institutions moved aggressively—AQR Capital increased its position by 165.2% to 5,191,440 shares, Check Capital and Ameriprise added large holdings, and Norges Bank opened a ~ $43.15 million position—leaving institutional ownership at about 10.69%.
• Sirius XM recently paid a quarterly dividend of $0.27 (annualized $1.08), implying a yield of about 4.9% and a dividend payout ratio near 48%.

Gabelli Funds LLC decreased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,882 shares of the company's stock after selling 54,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.17% of Sirius XM worth $13,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SIRI. AQR Capital Management LLC boosted its position in shares of Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock worth $117,327,000 after acquiring an additional 3,233,922 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Sirius XM by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 2,515,519 shares of the company's stock valued at $57,781,000 after purchasing an additional 170,155 shares during the period. Check Capital Management Inc. CA increased its position in Sirius XM by 76.7% during the third quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company's stock worth $47,989,000 after purchasing an additional 895,247 shares during the last quarter. Norges Bank purchased a new position in Sirius XM during the second quarter worth approximately $43,152,000. Finally, Alberta Investment Management Corp raised its stake in Sirius XM by 20.2% during the second quarter. Alberta Investment Management Corp now owns 1,486,226 shares of the company's stock worth $34,139,000 after purchasing an additional 250,000 shares during the period. Institutional investors and hedge funds own 10.69% of the company's stock.

Sirius XM Trading Down 1.7%

NASDAQ SIRI opened at $22.25 on Monday. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.30 and a quick ratio of 0.30. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $25.35. The company's fifty day moving average price is $21.04 and its two-hundred day moving average price is $21.72.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.08 annualized dividend and a dividend yield of 4.9%. Sirius XM's dividend payout ratio (DPR) is presently 48.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a report on Thursday, February 5th. Weiss Ratings downgraded Sirius XM from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, February 6th. UBS Group set a $24.00 target price on Sirius XM in a research report on Tuesday, February 10th. Rosenblatt Securities lifted their target price on Sirius XM from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Finally, Moffett Nathanson started coverage on Sirius XM in a research report on Tuesday, January 27th. They set a "neutral" rating and a $21.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $24.44.

About Sirius XM

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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