Stratos Wealth Partners LTD. cut its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 39.7% during the second quarter, Holdings Channel reports. The fund owned 37,789 shares of the company’s stock after selling 24,897 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sirius XM Holdings were worth $207,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of Sirius XM Holdings by 0.8% in the first quarter. IFP Advisors Inc now owns 101,545 shares of the company’s stock valued at $523,000 after buying an additional 833 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Sirius XM Holdings by 44.3% in the first quarter. Russell Investments Group Ltd. now owns 1,175,733 shares of the company’s stock valued at $6,056,000 after buying an additional 360,936 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Sirius XM Holdings by 2.4% in the first quarter. Shell Asset Management Co. now owns 145,437 shares of the company’s stock valued at $749,000 after buying an additional 3,375 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Sirius XM Holdings by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 71,552 shares of the company’s stock valued at $368,000 after buying an additional 2,664 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Sirius XM Holdings during the first quarter valued at $29,739,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sirius XM Holdings Inc. (NASDAQ SIRI) opened at 5.57 on Friday. Sirius XM Holdings Inc. has a 1-year low of $4.05 and a 1-year high of $5.89. The firm’s 50-day moving average is $5.49 and its 200 day moving average is $5.16. The stock has a market capitalization of $25.69 billion, a P/E ratio of 32.76 and a beta of 1.11.

Sirius XM Holdings (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, analysts expect that Sirius XM Holdings Inc. will post $0.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 10th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Tuesday, August 8th. Sirius XM Holdings’s dividend payout ratio (DPR) is 25.00%.

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Several brokerages have recently weighed in on SIRI. Piper Jaffray Companies set a $7.00 target price on shares of Sirius XM Holdings and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub downgraded shares of Sirius XM Holdings from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Pivotal Research reaffirmed a “buy” rating and issued a $6.25 target price on shares of Sirius XM Holdings in a report on Sunday, July 30th. FBR & Co reaffirmed an “outperform” rating and issued a $6.00 target price (up previously from $5.70) on shares of Sirius XM Holdings in a report on Sunday, July 30th. Finally, Zacks Investment Research downgraded shares of Sirius XM Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Sirius XM Holdings has an average rating of “Buy” and a consensus price target of $5.73.

About Sirius XM Holdings

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

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Institutional Ownership by Quarter for Sirius XM Holdings (NASDAQ:SIRI)

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