MML Investors Services LLC Sells 44,335 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

MML Investors Services LLC cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 67.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,482 shares of the company’s stock after selling 44,335 shares during the period. MML Investors Services LLC’s holdings in Sirius XM were worth $508,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SIRI. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter worth approximately $12,858,000. Dimensional Fund Advisors LP raised its stake in Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after purchasing an additional 353,860 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Sirius XM by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after purchasing an additional 490,761 shares during the period. Sessa Capital IM L.P. bought a new stake in Sirius XM in the 3rd quarter valued at $77,983,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Sirius XM in the 3rd quarter worth $67,598,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $23.08 on Monday. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of -3.64 and a beta of 1.03. The firm’s 50-day moving average price is $26.16 and its two-hundred day moving average price is $28.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 1-year low of $20.47 and a 1-year high of $56.80.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.68%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the company’s stock in a transaction on Friday, October 11th. The stock was bought at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the purchase, the insider now owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. The trade was a 1.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SIRI. Pivotal Research cut their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Citigroup raised their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Rosenblatt Securities lifted their price objective on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Bank of America restated an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.58.

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.