Caisse DE Depot ET Placement DU Quebec Purchases New Position in Sirius XM Holdings Inc. $SIRI

Key Points

• The Caisse DE Depot ET Placement DU Quebec acquired 70,300 shares of Sirius XM Holdings Inc. in the first quarter, representing an investment of approximately $1,585,000.
• Sirius XM reported a quarterly EPS of $0.57, missing analysts' expectations by $0.22, alongside a revenue of $2.14 billion.
• The company recently declared a quarterly dividend of $0.27 per share, equating to an annualized dividend yield of 4.6%.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,300 shares of the company's stock, valued at approximately $1,585,000.

A number of other institutional investors also recently modified their holdings of the company. Comerica Bank boosted its holdings in shares of Sirius XM by 159.9% during the first quarter. Comerica Bank now owns 103,239 shares of the company's stock worth $2,328,000 after purchasing an additional 63,516 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Sirius XM by 1.7% during the first quarter. APG Asset Management N.V. now owns 125,400 shares of the company's stock worth $2,617,000 after purchasing an additional 2,100 shares during the period. Cadence Bank boosted its holdings in shares of Sirius XM by 2.1% during the first quarter. Cadence Bank now owns 398,039 shares of the company's stock worth $8,974,000 after purchasing an additional 8,075 shares during the period. AlphaQuest LLC boosted its holdings in shares of Sirius XM by 13.3% during the first quarter. AlphaQuest LLC now owns 19,252 shares of the company's stock worth $434,000 after purchasing an additional 2,266 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Sirius XM by 42.0% during the first quarter. Ameriprise Financial Inc. now owns 2,345,364 shares of the company's stock worth $52,876,000 after purchasing an additional 693,473 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Rosenblatt Securities raised their price objective on shares of Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. Morgan Stanley raised their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Finally, Guggenheim restated a "buy" rating and issued a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Sirius XM presently has an average rating of "Hold" and a consensus price target of $26.18.

Sirius XM Stock Up 0.8%

Shares of SIRI stock traded up $0.18 during trading hours on Wednesday, hitting $23.29. 1,672,447 shares of the company's stock traded hands, compared to its average volume of 4,397,701. The stock's fifty day simple moving average is $23.05 and its two-hundred day simple moving average is $22.51. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $31.40. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of -3.45, a PEG ratio of 0.36 and a beta of 0.95. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89.

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

Sirius XM Dividend Announcement

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