Wittenberg Investment Management Inc. Trims Position in Sirius XM Holdings Inc. $SIRI

Wittenberg Investment Management Inc. decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,092,331 shares of the company’s stock after selling 22,464 shares during the period. Sirius XM comprises about 8.4% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Wittenberg Investment Management Inc. owned about 0.33% of Sirius XM worth $21,841,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SIRI. Berkshire Hathaway Inc lifted its position in shares of Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after purchasing an additional 3,233,922 shares during the last quarter. Norges Bank bought a new position in shares of Sirius XM during the fourth quarter worth about $57,124,000. Bank of New York Mellon Corp lifted its position in shares of Sirius XM by 253.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,019,901 shares of the company’s stock worth $40,388,000 after purchasing an additional 1,449,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sirius XM by 434.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,740,360 shares of the company’s stock worth $34,798,000 after purchasing an additional 1,414,426 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SIRI shares. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Citigroup reissued a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Guggenheim reissued a “buy” rating and issued a $34.00 target price (up from $29.00) on shares of Sirius XM in a report on Friday, April 24th. Barrington Research raised their target price on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.45.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $27.52 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $26.63 and its two-hundred day moving average price is $23.23. Sirius XM Holdings Inc. has a 52-week low of $19.76 and a 52-week high of $30.11. The stock has a market capitalization of $9.26 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.59 and a beta of 0.96.

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

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 11th. Sirius XM’s payout ratio is 45.57%.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.27% of the company’s stock.

Sirius XM Company Profile

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.