CW Advisors LLC Purchases 57,330 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• CW Advisors LLC significantly increased its investment in Sirius XM Holdings Inc. by acquiring an additional 57,330 shares, bringing its total holdings to 114,086 shares valued at approximately $2.57 million.
• Sirius XM reported a quarterly earnings miss with earnings per share of $0.57, falling short of analysts' expectations of $0.79, while revenue slightly exceeded estimates at $2.14 billion.
• The company announced a quarterly dividend of $0.27 per share with a yield of 4.6%, set to be paid to shareholders on August 27, 2023.

CW Advisors LLC lifted its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 101.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,086 shares of the company's stock after buying an additional 57,330 shares during the period. CW Advisors LLC's holdings in Sirius XM were worth $2,573,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SIRI. Opal Wealth Advisors LLC acquired a new position in shares of Sirius XM during the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of Sirius XM in the fourth quarter valued at about $27,000. Deseret Mutual Benefit Administrators raised its holdings in shares of Sirius XM by 79.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after buying an additional 705 shares during the period. Itau Unibanco Holding S.A. lifted its position in shares of Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Sirius XM by 3,263.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock worth $46,000 after buying an additional 1,958 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Trading Up 1.0%

SIRI traded up $0.24 during trading on Friday, reaching $23.61. The company had a trading volume of 1,407,958 shares, compared to its average volume of 4,411,898. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -3.50, a PEG ratio of 0.36 and a beta of 0.92. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $33.10. The firm's 50-day simple moving average is $22.97 and its 200 day simple moving average is $22.60.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share 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%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders 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 yield of 4.6%. The ex-dividend date was Friday, August 8th. Sirius XM's dividend payout ratio is -16.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SIRI shares. Wells Fargo & Company dropped their target price on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Guggenheim restated a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a research report on Thursday, June 26th. Morgan Stanley boosted their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Rosenblatt Securities raised their target price 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. Finally, Zacks Research upgraded Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.