CX Institutional Purchases 81,722 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• CX Institutional increased its holdings in Sirius XM by 58.9% in the second quarter, owning approximately 0.07% of the company valued at $5.06 million.
• Sirius XM reported earnings of $0.57 per share, missing estimates, with revenue of $2.14 billion, which was slightly above expectations despite a 1.8% decline compared to the previous year.
• The company recently announced a quarterly $0.27 dividend, equating to an annualized rate of $1.08, representing a yield of 4.7%.

CX Institutional lifted its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 58.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 220,371 shares of the company's stock after acquiring an additional 81,722 shares during the period. CX Institutional owned 0.07% of Sirius XM worth $5,062,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its position in Sirius XM by 15.6% in the 1st quarter. IFP Advisors Inc now owns 17,133 shares of the company's stock valued at $386,000 after buying an additional 2,307 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Sirius XM by 29.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company's stock valued at $1,064,000 after purchasing an additional 10,876 shares during the period. Cresset Asset Management LLC increased its holdings in Sirius XM by 9.0% in the first quarter. Cresset Asset Management LLC now owns 11,463 shares of the company's stock worth $258,000 after buying an additional 944 shares during the last quarter. Ninety One UK Ltd grew its holdings in Sirius XM by 8.3% during the first quarter. Ninety One UK Ltd now owns 191,829 shares of the company's stock valued at $4,325,000 after purchasing an additional 14,718 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in Sirius XM during the fourth quarter valued at approximately $622,000. Institutional investors own 10.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SIRI shares. Zacks Research raised Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Barrington Research restated an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. Guggenheim restated a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Morgan Stanley raised their target price on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Sirius XM has a consensus rating of "Hold" and a consensus price target of $26.18.

Sirius XM Trading Down 0.1%

SIRI traded down $0.03 during midday trading on Tuesday, reaching $22.99. 986,248 shares of the company were exchanged, compared to its average volume of 4,296,852. 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 Holdings Inc. has a one year low of $18.69 and a one year high of $29.18. The stock has a market capitalization of $7.74 billion, a P/E ratio of -3.41, a PEG ratio of 0.35 and a beta of 0.95. The stock's 50-day simple moving average is $23.01 and its 200 day simple moving average is $22.38.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings data 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). Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $0.80 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. As a group, analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Friday, August 8th. Sirius XM's payout ratio 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.