Traynor Capital Management Inc. reduced its position in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 17.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,510 shares of the company’s stock after selling 6,994 shares during the quarter. Traynor Capital Management Inc.’s holdings in Sirius XM were worth $185,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Williams Jones & Associates LLC bought a new stake in Sirius XM during the 1st quarter valued at about $57,000. Metropolitan Life Insurance Co NY increased its stake in Sirius XM by 26.2% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 125,031 shares of the company’s stock valued at $708,000 after purchasing an additional 25,974 shares in the last quarter. Strs Ohio increased its stake in Sirius XM by 5.7% during the 1st quarter. Strs Ohio now owns 268,847 shares of the company’s stock valued at $1,524,000 after purchasing an additional 14,496 shares in the last quarter. Rhumbline Advisers increased its stake in Sirius XM by 18.7% during the 1st quarter. Rhumbline Advisers now owns 2,270,098 shares of the company’s stock valued at $12,871,000 after purchasing an additional 358,170 shares in the last quarter. Finally, Gagnon Securities LLC bought a new stake in Sirius XM during the 1st quarter valued at about $849,000. Institutional investors and hedge funds own 20.60% of the company’s stock.

Shares of SIRI stock traded up $0.04 during trading hours on Thursday, reaching $6.15. The company had a trading volume of 435,989 shares, compared to its average volume of 23,562,292. The business has a fifty day moving average of $5.95. Sirius XM Holdings Inc has a one year low of $5.23 and a one year high of $7.25. The firm has a market capitalization of $26.92 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.41 and a beta of 1.03. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 46.63.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. As a group, research analysts anticipate that Sirius XM Holdings Inc will post 0.21 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 9th will be issued a $0.0121 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Thursday, August 8th. Sirius XM’s payout ratio is 19.23%.

In other Sirius XM news, insider Jennifer C. Witz sold 504,830 shares of Sirius XM stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the transaction, the insider now owns 913,904 shares of the company’s stock, valued at $5,501,702.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas D. Barry sold 164,715 shares of Sirius XM stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.99, for a total transaction of $986,642.85. Following the transaction, the vice president now directly owns 265,735 shares in the company, valued at approximately $1,591,752.65. The disclosure for this sale can be found here. In the last three months, insiders sold 732,612 shares of company stock worth $4,383,940. 0.93% of the stock is currently owned by insiders.

SIRI has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th. ValuEngine upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Barrington Research restated a “buy” rating and set a $8.00 price objective on shares of Sirius XM in a research note on Wednesday, April 24th. Finally, Credit Suisse Group upgraded shares of Sirius XM from a “neutral” rating to an “outperform” rating and set a $7.00 price target for the company in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.29.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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

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