Canada Pension Plan Investment Board Boosts Holdings in Sirius XM Holdings Inc. $SIRI

Key Points

• The Canada Pension Plan Investment Board increased its stake in Sirius XM Holdings by 4.3% to a total of 369,400 shares, valued at approximately $8.33 million.
• Sirius XM faces mixed analyst ratings, with price targets ranging from $18.00 to $29.00, reflecting a need for cautious investor sentiment.
• Despite a revenue of $2.14 billion, Sirius XM reported earnings of $0.57 per share, which missed analyst expectations by ($0.22).

Canada Pension Plan Investment Board increased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,400 shares of the company's stock after purchasing an additional 15,200 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Sirius XM worth $8,328,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Sirius XM by 15.6% during the first quarter. IFP Advisors Inc now owns 17,133 shares of the company's stock worth $386,000 after purchasing an additional 2,307 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Sirius XM by 29.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company's stock worth $1,064,000 after purchasing an additional 10,876 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Sirius XM by 9.0% during the first quarter. Cresset Asset Management LLC now owns 11,463 shares of the company's stock worth $258,000 after purchasing an additional 944 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Sirius XM by 8.3% during the first quarter. Ninety One UK Ltd now owns 191,829 shares of the company's stock worth $4,325,000 after purchasing an additional 14,718 shares during the period. Finally, Brighton Jones LLC acquired a new stake in shares of Sirius XM during the fourth quarter worth $622,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Price Performance

Sirius XM stock traded up $0.48 during midday trading on Friday, reaching $24.06. 3,678,042 shares of the company were exchanged, compared to its average volume of 3,461,091. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of -3.56, a P/E/G ratio of 0.37 and a beta of 0.95. The firm's 50-day simple moving average is $23.13 and its 200-day simple moving average is $22.46. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $29.18. 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 posted 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). The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. On average, analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 4.5%. Sirius XM's payout ratio is -16.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SIRI shares. Rosenblatt Securities increased 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. Barrington Research reissued an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a report on Friday, August 1st. Zacks Research raised Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Wells Fargo & Company reduced their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Finally, Morgan Stanley raised their target price on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. One equities research 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.18.

About Sirius XM

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.