Sirius XM Holdings Inc. $SIRI Stock Position Lifted by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Sirius XM Holdings Inc. by 36.1%, owning 155,272 shares valued at approximately $3.5 million after adding 41,170 shares in the first quarter.
• Several institutional investors, including Berkshire Hathaway and Ameriprise Financial, also boosted their positions in Sirius XM, indicating increased institutional interest in the stock.
• Sirius XM recently reported quarterly earnings of $0.57 per share, missing analysts' estimates, with the company also declaring a quarterly dividend of $0.27 per share to be paid on August 27th.

Algert Global LLC grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,272 shares of the company's stock after purchasing an additional 41,170 shares during the quarter. Algert Global LLC's holdings in Sirius XM were worth $3,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in Sirius XM in the first quarter valued at $25,000. Putney Financial Group LLC acquired a new position in Sirius XM during the 4th quarter valued at about $27,000. Deseret Mutual Benefit Administrators grew its position in Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after purchasing an additional 705 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in Sirius XM by 255.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Sirius XM by 3,263.3% during the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock worth $46,000 after buying an additional 1,958 shares during the period. Institutional investors and hedge funds own 10.69% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on SIRI. Barrington Research restated an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research report on Friday, August 1st. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Morgan Stanley increased their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Guggenheim reiterated a "buy" rating and issued a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.18.

Sirius XM Price Performance

Shares of NASDAQ SIRI traded up $1.18 during trading on Friday, hitting $23.44. The company had a trading volume of 3,752,752 shares, compared to its average volume of 4,956,021. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $33.35. The business's 50-day moving average is $22.83 and its 200 day moving average is $22.64. The company has a market cap of $7.89 billion, a P/E ratio of -3.47, a PEG ratio of 0.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Equities research analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, August 8th. Sirius XM's dividend payout ratio (DPR) is presently -16.00%.

Insider Activity

In related news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the sale, the director owned 15,471 shares in the company, valued at approximately $344,539.17. This represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.32% of the stock is owned by corporate insiders.

Sirius XM 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.