Penn Davis Mcfarland Inc. Sells 26,959 Shares of Sirius XM Holdings Inc. $SIRI

Penn Davis Mcfarland Inc. lowered its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 19.8% in the first quarter, Holdings Channel reports. The institutional investor owned 109,303 shares of the company’s stock after selling 26,959 shares during the period. Penn Davis Mcfarland Inc.’s holdings in Sirius XM were worth $2,523,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SIRI. Rossby Financial LCC grew its position in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Sirius XM in the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sirius XM in the 4th quarter worth approximately $40,000. Finally, PeakShares LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth approximately $46,000. Institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Rosenblatt Securities lowered their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Evercore set a $28.00 price target on shares of Sirius XM in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus price target of $27.45.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Price Performance

Sirius XM stock opened at $27.76 on Friday. 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 company has a market capitalization of $9.34 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.60 and a beta of 0.96. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $30.11. The business has a 50 day simple moving average of $27.39 and a 200 day simple moving average of $23.65.

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

Sirius XM Announces Dividend

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

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.