Hsbc Holdings PLC Decreases Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Hsbc Holdings PLC cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 31.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,459 shares of the company's stock after selling 23,131 shares during the period. Hsbc Holdings PLC's holdings in Sirius XM were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM during the 4th quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in Sirius XM in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. grew its holdings in shares of Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock worth $31,000 after purchasing an additional 1,144 shares during the last quarter. Gables Capital Management Inc. purchased a new position in shares of Sirius XM in the fourth quarter worth $43,000. Finally, Avior Wealth Management LLC raised its holdings in Sirius XM by 670.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,080 shares of the company's stock valued at $47,000 after buying an additional 1,810 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Price Performance

SIRI stock opened at $20.47 on Friday. 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 firm has a 50 day moving average price of $22.00 and a 200-day moving average price of $23.84. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $41.60. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -3.19, a PEG ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $0.07 earnings per share. The company's revenue was down 4.3% compared to the same quarter last year. Equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.28%. Sirius XM's dividend payout ratio is currently -16.85%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Guggenheim decreased their price objective on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley lowered their price target on Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, January 23rd. Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday. Rosenblatt Securities decreased their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sirius XM currently has an average rating of "Hold" and a consensus price target of $26.65.

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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