Readystate Asset Management LP Has $4.14 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Readystate Asset Management LP decreased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 34.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 755,948 shares of the company’s stock after selling 397,674 shares during the period. Readystate Asset Management LP’s holdings in Sirius XM were worth $4,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Sirius XM during the 3rd quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in shares of Sirius XM during the 4th quarter valued at $27,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Sirius XM during the 3rd quarter valued at $30,000. FNY Investment Advisers LLC acquired a new stake in shares of Sirius XM during the 3rd quarter valued at $34,000. Finally, Comerica Bank acquired a new stake in shares of Sirius XM during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analyst Ratings Changes

SIRI has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Citigroup raised their price target on shares of Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a report on Friday, January 12th. StockNews.com started coverage on shares of Sirius XM in a report on Saturday. They issued a “hold” rating on the stock. Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Guggenheim started coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sirius XM has a consensus rating of “Hold” and an average price target of $4.74.

Insider Buying and Selling

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Sirius XM Stock Down 1.6 %

NASDAQ:SIRI traded down $0.05 on Wednesday, reaching $3.10. The stock had a trading volume of 14,152,476 shares, compared to its average volume of 14,958,619. The company has a market capitalization of $11.92 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. Sirius XM Holdings Inc. has a 1-year low of $3.08 and a 1-year high of $7.95. The stock has a fifty day moving average price of $4.10 and a 200-day moving average price of $4.66.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Sell-side analysts predict that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is 34.38%.

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.