New South Capital Management Inc. Sells 1,940 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

New South Capital Management Inc. lessened its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,576 shares of the company’s stock after selling 1,940 shares during the period. New South Capital Management Inc.’s holdings in Sirius XM were worth $1,518,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SIRI. International Assets Investment Management LLC increased its holdings in Sirius XM by 137.6% during the 3rd quarter. International Assets Investment Management LLC now owns 5,865 shares of the company’s stock worth $139,000 after purchasing an additional 3,397 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at about $51,000. QRG Capital Management Inc. bought a new position in shares of Sirius XM in the 3rd quarter valued at about $278,000. TCTC Holdings LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at about $29,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Sirius XM in the 3rd quarter valued at about $318,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Down 1.8 %

Shares of SIRI stock opened at $23.23 on Thursday. The firm has a 50 day moving average price of $23.59 and a two-hundred day moving average price of $25.43. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $7.87 billion, a PE ratio of -3.62, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. Sirius XM Holdings Inc. has a 12-month low of $20.47 and a 12-month high of $42.50.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. As a group, analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.65%. Sirius XM’s payout ratio is -16.85%.

Analysts Set New Price Targets

SIRI has been the subject of several analyst reports. StockNews.com initiated coverage on Sirius XM in a report on Wednesday, November 13th. They issued a “sell” rating for the company. Barrington Research set a $28.00 price objective on Sirius XM in a report on Friday, January 31st. Guggenheim decreased their price objective on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, December 19th. Finally, Rosenblatt Securities reduced their price target on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.81.

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.