Inlight Wealth Management LLC Sells 19,967 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Inlight Wealth Management LLC trimmed its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 17.8% in the 1st quarter, Holdings Channel reports. The fund owned 92,301 shares of the company’s stock after selling 19,967 shares during the quarter. Sirius XM comprises 0.7% of Inlight Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Inlight Wealth Management LLC’s holdings in Sirius XM were worth $2,081,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Berkshire Hathaway Inc grew its holdings in shares of Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock worth $2,678,283,000 after purchasing an additional 12,313,544 shares during the last quarter. LSV Asset Management acquired a new stake in Sirius XM in the 4th quarter valued at approximately $51,535,000. Norges Bank acquired a new stake in Sirius XM in the 4th quarter valued at approximately $28,269,000. Toronto Dominion Bank acquired a new stake in Sirius XM in the 4th quarter valued at approximately $22,398,000. Finally, Ensign Peak Advisors Inc bought a new position in Sirius XM in the fourth quarter valued at approximately $19,052,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the company’s 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 sale, the director now owns 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.32% of the stock is owned by corporate insiders.

Sirius XM Trading Up 1.2%

Shares of SIRI stock opened at $21.75 on Friday. The firm has a market capitalization of $7.35 billion, a P/E ratio of -3.34, a P/E/G ratio of 0.31 and a beta of 0.91. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $21.55 and its 200 day simple moving average is $22.68.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). Sirius XM had a negative net margin of 25.00% and a positive return on equity of 6.77%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 annualized dividend and a dividend yield of 4.97%. Sirius XM’s payout ratio is -16.56%.

Analysts Set New Price Targets

SIRI has been the subject of a number of analyst reports. Rosenblatt Securities decreased their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, 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. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average target price of $26.65.

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.