New York State Common Retirement Fund Decreases Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

New York State Common Retirement Fund trimmed its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 61.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,923,905 shares of the company's stock after selling 6,379,581 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Sirius XM worth $21,464,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in shares of Sirius XM by 20.5% during the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company's stock worth $69,000 after acquiring an additional 2,139 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Sirius XM by 0.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company's stock worth $2,123,000 after buying an additional 2,300 shares during the period. Fi3 FINANCIAL ADVISORS LLC boosted its holdings in Sirius XM by 9.6% in the 3rd quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company's stock valued at $124,000 after purchasing an additional 2,420 shares during the period. Bank of Nova Scotia boosted its holdings in Sirius XM by 2.4% in the 3rd quarter. Bank of Nova Scotia now owns 122,871 shares of the company's stock valued at $555,000 after purchasing an additional 2,826 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in Sirius XM by 9.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 37,259 shares of the company's stock valued at $204,000 after purchasing an additional 3,069 shares during the period. 10.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Sirius XM from $4.50 to $3.00 and set an "underweight" rating for the company in a report on Monday, April 1st. Guggenheim began coverage on shares of Sirius XM in a research report on Thursday, March 14th. They issued a "neutral" rating and a $4.00 target price for the company. StockNews.com began coverage on shares of Sirius XM in a research report on Sunday, April 21st. They issued a "hold" rating for the company. Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, March 27th. Finally, Citigroup upgraded shares of Sirius XM from a "sell" rating to a "neutral" rating and dropped their target price for the company from $4.10 to $3.30 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.67.

Insiders Place Their Bets

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company's stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company's stock, valued at $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.

Sirius XM Price Performance

SIRI stock remained flat at $3.02 during trading on Friday. 31,221,366 shares of the company were exchanged, compared to its average volume of 18,099,794. The business's fifty day moving average is $3.85 and its 200-day moving average is $4.60. The company has a market capitalization of $11.62 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.04. Sirius XM Holdings Inc. has a twelve month low of $2.97 and a twelve month high of $7.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, May 9th. Sirius XM's payout ratio is 34.38%.

Sirius XM 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.