Sirius XM Holdings Inc. $SIRI Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Sirius XM Holdings Inc. by 42% in the first quarter, acquiring an additional 693,473 shares and owning a total of 2,345,364 shares valued at approximately $52.88 million.
• Various institutional investors, including Berkshire Hathaway Inc. and Fuller & Thaler Asset Management Inc., have significantly raised their positions in Sirius XM, reflecting growing interest among hedge funds.
• Sirius XM's quarterly revenue was reported at $2.14 billion, slightly exceeding expectations, but it missed earnings per share estimates, generating a 3.73% return on equity.

Ameriprise Financial Inc. grew its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,345,364 shares of the company's stock after buying an additional 693,473 shares during the quarter. Ameriprise Financial Inc. owned 0.69% of Sirius XM worth $52,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC increased its stake in Sirius XM by 5.1% during the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock worth $220,000 after buying an additional 475 shares in the last quarter. Allegiance Financial Group Advisory Services LLC boosted its stake in shares of Sirius XM by 5.5% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock worth $286,000 after acquiring an additional 660 shares during the last quarter. Polianta Ltd raised its stake in Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company's stock valued at $1,088,000 after purchasing an additional 700 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after purchasing an additional 705 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Sirius XM by 37.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company's stock valued at $68,000 after purchasing an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Trading Up 1.2%

Shares of SIRI traded up $0.27 during midday trading on Friday, hitting $23.64. 2,568,093 shares of the stock were exchanged, compared to its average volume of 4,433,618. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $7.96 billion, a P/E ratio of -3.50, a P/E/G ratio of 0.36 and a beta of 0.92. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $33.10. The stock has a fifty day simple moving average of $23.01 and a 200 day simple moving average of $22.58.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly 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 business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Sirius XM's payout ratio is -16.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIRI shares. Barrington Research reissued an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. Zacks Research upgraded Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Morgan Stanley boosted their price objective on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company cut their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Friday, August 1st. Finally, Rosenblatt Securities lifted their price target on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.18.

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.