State of Alaska Department of Revenue Sells 100,000 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

State of Alaska Department of Revenue trimmed its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 42.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,242 shares of the company's stock after selling 100,000 shares during the quarter. State of Alaska Department of Revenue's holdings in Sirius XM were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. raised its holdings in Sirius XM by 4.5% in the 4th quarter. Xponance Inc. now owns 12,341 shares of the company's stock worth $281,000 after purchasing an additional 527 shares during the period. PNC Financial Services Group Inc. raised its holdings in Sirius XM by 4.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company's stock worth $339,000 after purchasing an additional 630 shares during the period. Wealthspire Advisors LLC raised its holdings in Sirius XM by 4.3% in the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company's stock worth $358,000 after purchasing an additional 643 shares during the period. Polianta Ltd raised its holdings in Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company's stock worth $1,088,000 after purchasing an additional 700 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Sirius XM by 5.9% in the 4th quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company's stock worth $325,000 after purchasing an additional 791 shares during the period. 10.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director now owns 15,471 shares of the company's stock, valued at approximately $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SIRI. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Finally, Rosenblatt Securities cut their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of "Hold" and an average price target of $26.65.

Sirius XM Stock Performance

Sirius XM stock opened at $21.75 on Friday. The firm has a 50 day simple moving average of $21.55 and a 200-day simple moving average of $22.68. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $41.60. 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 stock has a market cap of $7.35 billion, a price-to-earnings ratio of -3.34, a price-to-earnings-growth ratio of 0.31 and a beta of 0.91.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. On average, analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 4.97%. Sirius XM's dividend payout ratio 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.

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