Chou Associates Management Inc. Raises Stock Position in Sirius XM Holdings Inc. $SIRI

Key Points

• Chou Associates Management Inc. significantly increased its stake in Sirius XM Holdings by 5,479.5%, acquiring 689,872 additional shares, which now represents 8.6% of its portfolio.
• Sirius XM's recent quarterly earnings report showed an EPS of $0.57, falling short of analyst expectations by $0.22.
• The company declared a quarterly dividend of $0.27, resulting in an annual yield of 4.6%.

Chou Associates Management Inc. lifted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 5,479.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 702,462 shares of the company's stock after purchasing an additional 689,872 shares during the period. Sirius XM comprises approximately 8.6% of Chou Associates Management Inc.'s portfolio, making the stock its 2nd biggest holding. Chou Associates Management Inc. owned about 0.21% of Sirius XM worth $15,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIRI. Opal Wealth Advisors LLC bought a new position in shares of Sirius XM in the first quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in Sirius XM in the fourth quarter worth $27,000. Deseret Mutual Benefit Administrators boosted its holdings in Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after acquiring an additional 705 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Sirius XM by 3,263.3% in the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock valued at $46,000 after acquiring an additional 1,958 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. bought a new stake in Sirius XM in the first quarter valued at $52,000. Institutional investors own 10.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SIRI shares. Guggenheim reiterated a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. 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. Wells Fargo & Company cut their price target on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Sirius XM has an average rating of "Hold" and an average price target of $26.18.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $23.53 on Thursday. 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 $7.92 billion, a P/E ratio of -3.49, a P/E/G ratio of 0.36 and a beta of 0.95. The business has a fifty day simple moving average of $23.08 and a two-hundred day simple moving average of $22.52. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $31.40.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced 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). The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 4.6%. Sirius XM's payout ratio is presently -16.00%.

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.

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