Sirius XM Holdings Inc. $SIRI Stock Position Decreased by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Sirius XM Holdings Inc. by 21.5%, selling 477,416 shares and holding approximately 1,740,601 shares worth $39.2 million as of the latest SEC filing.
• Sirius XM's quarterly earnings report indicated a loss with $0.57 EPS, missing the consensus estimate by $0.22, while revenue was slightly better than expected at $2.14 billion.
• The company announced a quarterly dividend of $0.27 per share, equating to an annualized dividend yield of 4.6% for investors of record as of August 8th.

Brandywine Global Investment Management LLC reduced its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,740,601 shares of the company's stock after selling 477,416 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.52% of Sirius XM worth $39,242,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc increased its stake in shares of Sirius XM by 11.7% during the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after purchasing an additional 12,313,544 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Sirius XM during the 4th quarter worth approximately $22,398,000. LSV Asset Management increased its stake in shares of Sirius XM by 41.5% during the 1st quarter. LSV Asset Management now owns 3,197,800 shares of the company's stock worth $72,094,000 after purchasing an additional 937,500 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Sirius XM during the 4th quarter worth approximately $19,052,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Sirius XM by 69.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,651,891 shares of the company's stock worth $37,663,000 after purchasing an additional 675,924 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Morgan Stanley lifted their price target on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Rosenblatt Securities lifted their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Guggenheim reiterated a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a report on Friday, August 1st. Six equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.18.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company's stock.

Sirius XM Stock Down 0.8%

NASDAQ:SIRI traded down $0.18 during mid-day trading on Monday, hitting $22.85. The company had a trading volume of 2,292,275 shares, compared to its average volume of 4,912,675. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $36.40. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of -3.39, a PEG ratio of 0.35 and a beta of 0.92. The business has a fifty day simple moving average of $22.77 and a 200-day simple moving average of $22.69.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.57 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business's quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. Sirius XM's payout ratio is presently -16.00%.

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.