Hsbc Holdings PLC Lowers Stock Holdings in Sirius XM Holdings Inc. $SIRI

Hsbc Holdings PLC reduced its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,795,954 shares of the company’s stock after selling 280,585 shares during the period. Hsbc Holdings PLC’s holdings in Sirius XM were worth $41,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the period. Krilogy Financial LLC grew its stake in Sirius XM by 1.1% in the 4th quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock valued at $1,097,000 after acquiring an additional 577 shares during the period. Rossby Financial LCC increased its holdings in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after acquiring an additional 593 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Sirius XM by 4.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after acquiring an additional 594 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in Sirius XM by 2.0% during the fourth quarter. Corient Private Wealth LLC now owns 31,263 shares of the company’s stock worth $625,000 after acquiring an additional 615 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SIRI. Evercore set a $28.00 price objective on shares of Sirius XM in a report on Friday, May 1st. Barrington Research boosted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Citigroup reaffirmed a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.00.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $30.60 on Tuesday. The company’s 50-day moving average price is $28.67 and its 200-day moving average price is $24.74. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. The company has a market cap of $10.30 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.66 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $31.42.

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

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, May 11th. Sirius XM’s payout ratio is currently 45.57%.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is currently owned by corporate insiders.

Sirius XM Profile

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.