California Public Employees Retirement System Has $7 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

California Public Employees Retirement System reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,280,095 shares of the company’s stock after selling 42,853 shares during the quarter. California Public Employees Retirement System’s holdings in Sirius XM were worth $7,002,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIRI. Truvestments Capital LLC acquired a new position in shares of Sirius XM in the third quarter worth $27,000. BKM Wealth Management LLC acquired a new position in Sirius XM in the 4th quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Sirius XM during the 3rd quarter worth about $47,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of Sirius XM during the 3rd quarter valued at about $47,000. Finally, ORG Partners LLC bought a new stake in shares of Sirius XM in the 4th quarter valued at approximately $49,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SIRI. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their target price for the company from $3.50 to $3.25 in a report on Wednesday. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and decreased their price target for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, Barrington Research restated an “outperform” rating and issued a $5.75 target price on shares of Sirius XM in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $4.42.

Insiders Place Their Bets

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director James E. Meyer sold 800,000 shares of the firm’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 transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction 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 transaction, the insider now 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. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Trading Up 2.3 %

Shares of Sirius XM stock opened at $3.12 on Friday. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.10. Sirius XM Holdings Inc. has a 1 year low of $2.92 and a 1 year high of $7.95. The company’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $4.56.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, research analysts forecast that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

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.