Wittenberg Investment Management Inc. Cuts Stake in Sirius XM Holdings Inc. $SIRI

Wittenberg Investment Management Inc. lessened its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,092,331 shares of the company’s stock after selling 22,464 shares during the quarter. Sirius XM accounts for 8.4% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 4th biggest position. Wittenberg Investment Management Inc.’s holdings in Sirius XM were worth $21,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in shares of Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the last quarter. Krilogy Financial LLC raised its holdings in shares of Sirius XM by 1.1% during the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock valued at $1,097,000 after buying an additional 577 shares during the last quarter. Rossby Financial LCC increased its stake in shares of Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after acquiring an additional 593 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Sirius XM by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock valued at $272,000 after acquiring an additional 594 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Sirius XM by 31.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,625 shares of the company’s stock valued at $52,000 after acquiring an additional 627 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

NASDAQ SIRI opened at $27.52 on Monday. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $30.11. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market capitalization of $9.26 billion, a PE ratio of 11.61, a P/E/G ratio of 0.59 and a beta of 0.96. The company’s 50 day simple moving average is $26.63 and its 200 day simple moving average is $23.23.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, equities research analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.9%. Sirius XM’s payout ratio is 45.57%.

Analyst Ratings Changes

SIRI has been the topic of a number of research analyst reports. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 1st. Guggenheim reiterated a “buy” rating and set a $34.00 price objective (up from $29.00) on shares of Sirius XM in a research note on Friday, April 24th. Citigroup reiterated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Barrington Research raised their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.45.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.27% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.