Maryland State Retirement & Pension System Sells 2,483 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Maryland State Retirement & Pension System cut its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 17.8% in the fourth quarter, HoldingsChannel reports. The fund owned 11,486 shares of the company’s stock after selling 2,483 shares during the period. Maryland State Retirement & Pension System’s holdings in Sirius XM were worth $262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Check Capital Management Inc. CA lifted its holdings in Sirius XM by 597.7% during the 4th quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after buying an additional 981,517 shares in the last quarter. Whitebox Advisors LLC lifted its stake in shares of Sirius XM by 310.5% during the third quarter. Whitebox Advisors LLC now owns 1,176,722 shares of the company’s stock valued at $27,829,000 after acquiring an additional 890,048 shares during the period. Capital Management Corp VA bought a new position in Sirius XM in the fourth quarter valued at about $11,339,000. FMR LLC increased its position in Sirius XM by 472.6% in the third quarter. FMR LLC now owns 497,514 shares of the company’s stock worth $11,766,000 after purchasing an additional 410,621 shares during the period. Finally, Seizert Capital Partners LLC raised its holdings in Sirius XM by 16.3% during the 4th quarter. Seizert Capital Partners LLC now owns 2,269,616 shares of the company’s stock worth $51,747,000 after purchasing an additional 317,289 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Rosenblatt Securities reduced their target price on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Seaport Res Ptn lowered shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barrington Research set a $28.00 price target on Sirius XM in a research note on Friday, January 31st. Morgan Stanley decreased their price objective on Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, Guggenheim cut their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.81.

Sirius XM Stock Up 1.2 %

Shares of SIRI stock opened at $24.24 on Wednesday. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of -3.78, a P/E/G 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 $41.60. The firm has a fifty day moving average of $23.88 and a 200-day moving average of $24.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal 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 paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 4.46%. Sirius XM’s dividend payout ratio is currently -16.85%.

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.