Comerica Bank Has $2.33 Million Position in Sirius XM Holdings Inc. $SIRI

Key Points

• Comerica Bank increased its holdings in Sirius XM Holdings Inc. by 159.9% in the first quarter, acquiring an additional 63,516 shares, bringing its total to 103,239 shares valued at approximately $2.33 million.
• Several hedge funds, including Fuller & Thaler Asset Management and Ameriprise Financial, have significantly increased their stakes in Sirius XM, indicating growing institutional interest.
• Sirius XM's recent quarterly earnings report missed analysts' expectations, reporting $0.57 earnings per share against a consensus estimate of $0.79, and showing a year-over-year revenue decline of 1.8%.

Comerica Bank increased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 159.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,239 shares of the company's stock after purchasing an additional 63,516 shares during the period. Comerica Bank's holdings in Sirius XM were worth $2,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Sirius XM during the first quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Sirius XM in the fourth quarter worth $27,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Sirius XM by 79.3% during 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 increased its holdings in shares of Sirius XM by 3,263.3% during 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. purchased a new stake in shares of Sirius XM during the first quarter valued at $52,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Stock Performance

Shares of Sirius XM stock traded up $0.42 on Wednesday, hitting $23.53. The stock had a trading volume of 2,755,529 shares, compared to its average volume of 3,824,359. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -3.49, a P/E/G ratio of 0.36 and a beta of 0.95. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $31.40. The company's 50 day moving average price is $23.08 and its 200 day moving average price is $22.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.57 earnings per share 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 company earned $0.80 EPS. The business's revenue 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 year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SIRI. Wells Fargo & Company lowered their price objective on 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 boosted their price objective on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Guggenheim restated a "buy" rating and set a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Zacks Research upgraded Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Rosenblatt Securities upped their price objective on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.18.

Sirius XM 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.