Alhambra Investment Management LLC Cuts Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Alhambra Investment Management LLC lessened its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,152 shares of the company’s stock after selling 2,567 shares during the quarter. Alhambra Investment Management LLC’s holdings in Sirius XM were worth $297,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new position in shares of Sirius XM in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new stake in Sirius XM in the 4th quarter worth about $26,000. First Command Advisory Services Inc. acquired a new stake in Sirius XM in the 4th quarter worth about $30,000. Itau Unibanco Holding S.A. boosted its stake in Sirius XM by 255.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company’s stock worth $42,000 after buying an additional 1,321 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Sirius XM in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities decreased their target price on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Barrington Research reiterated an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, May 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $26.65.

Sirius XM Stock Performance

SIRI stock opened at $22.81 on Wednesday. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of -3.56, a PEG ratio of 0.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60. The stock’s fifty day moving average is $21.28 and its two-hundred day moving average is $22.97.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. Sirius XM’s revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.73%. Sirius XM’s payout ratio is presently -16.56%.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director now directly owns 15,471 shares in the company, valued at $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company’s stock.

Sirius XM Company 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.