Miracle Mile Advisors LLC Sells 1,620 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Miracle Mile Advisors LLC lessened its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,116 shares of the company’s stock after selling 1,620 shares during the period. Miracle Mile Advisors LLC’s holdings in Sirius XM were worth $228,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SIRI. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock valued at $2,678,283,000 after buying an additional 12,313,544 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sirius XM by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,914,785 shares of the company’s stock valued at $89,284,000 after acquiring an additional 154,765 shares during the last quarter. Seizert Capital Partners LLC increased its position in Sirius XM by 16.3% during the 4th quarter. Seizert Capital Partners LLC now owns 2,269,616 shares of the company’s stock valued at $51,747,000 after purchasing an additional 317,289 shares during the period. LSV Asset Management acquired a new stake in Sirius XM during the 4th quarter valued at approximately $51,535,000. Finally, Brandywine Global Investment Management LLC raised its holdings in Sirius XM by 7.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,218,017 shares of the company’s stock worth $50,571,000 after purchasing an additional 150,744 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $22.59 on Thursday. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $41.60. The stock’s 50 day moving average is $21.34 and its 200-day moving average is $22.97. 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 firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of -3.52, a PEG ratio of 0.79 and a beta of 0.91.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 4.78%. Sirius XM’s payout ratio is -16.56%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the transaction, the director now directly owns 15,471 shares of the company’s stock, valued at $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SIRI shares. Rosenblatt Securities reduced their price objective on shares of Sirius XM from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a report on Friday, May 2nd. Six equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.65.

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.