Bank of New York Mellon Corp Has $8.74 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Bank of New York Mellon Corp lowered its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 48.3% during the second quarter, Holdings Channel.com reports. The firm owned 3,088,992 shares of the company’s stock after selling 2,888,140 shares during the period. Bank of New York Mellon Corp’s holdings in Sirius XM were worth $8,742,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. First United Bank & Trust bought a new position in Sirius XM during the 4th quarter worth approximately $37,000. TFO Wealth Partners LLC raised its stake in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares during the period. American National Bank bought a new position in Sirius XM during the fourth quarter worth about $41,000. V Square Quantitative Management LLC grew its stake in Sirius XM by 66.6% in the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares during the period. Finally, First PREMIER Bank acquired a new position in Sirius XM in the first quarter valued at about $31,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $27.38 on Wednesday. The company has a market capitalization of $105.32 billion, a PE ratio of 82.97, a price-to-earnings-growth ratio of 0.88 and a beta of 1.08. The company has a fifty day moving average of $3.80 and a 200-day moving average of $3.47. Sirius XM Holdings Inc. has a 52-week low of $24.43 and a 52-week high of $57.80.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.0266 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 0.39%. Sirius XM’s payout ratio is 30.30%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIRI shares. Citigroup lowered shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target on the stock. in a research note on Thursday, July 25th. Barrington Research restated an “outperform” rating and issued a $4.75 target price on shares of Sirius XM in a research note on Monday, July 15th. StockNews.com began coverage on shares of Sirius XM in a report on Monday, August 19th. They issued a “hold” rating on the stock. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price target for the company from $4.25 to $3.25 in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.80.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the completion of the sale, the insider now directly owns 989,331 shares of the company’s stock, valued at $3,126,285.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.79% 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.