HBK Sorce Advisory LLC Sells 4,940 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

HBK Sorce Advisory LLC reduced its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 27.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,130 shares of the company’s stock after selling 4,940 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Sirius XM were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. NINE MASTS CAPITAL Ltd acquired a new position in Sirius XM in the second quarter valued at approximately $389,000. Choreo LLC lifted its stake in shares of Sirius XM by 33.8% in the 2nd quarter. Choreo LLC now owns 25,438 shares of the company’s stock valued at $73,000 after purchasing an additional 6,421 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Sirius XM in the 2nd quarter worth $36,000. Savant Capital LLC acquired a new stake in shares of Sirius XM during the second quarter worth $613,000. Finally, Impact Partnership Wealth LLC bought a new stake in Sirius XM in the second quarter valued at about $375,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the completion of the transaction, the insider now directly owns 989,331 shares in the company, valued at approximately $3,126,285.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is owned by insiders.

Sirius XM Price Performance

SIRI opened at $24.51 on Monday. The company has a market capitalization of $94.28 billion, a price-to-earnings ratio of 74.27, a P/E/G ratio of 0.90 and a beta of 1.08. The business’s 50-day moving average price is $5.15 and its two-hundred day moving average price is $3.92. Sirius XM Holdings Inc. has a 1 year low of $24.43 and a 1 year high of $57.80.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.14 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, August 9th. Sirius XM’s payout ratio is 321.21%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SIRI. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and decreased their target price for the stock from $4.25 to $3.25 in a research report on Monday, June 24th. StockNews.com assumed coverage on shares of Sirius XM in a report on Monday, August 19th. They set a “hold” rating for the company. Citigroup lowered shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 target price on the stock. in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.80.

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.