Empowered Funds LLC Invests $4.55 Million in Sirius XM Holdings Inc. $SIRI

Key Points

• Empowered Funds LLC acquired 115,276 Sirius XM shares worth approximately $4.55 million during the second quarter. Several other institutional investors also initiated positions, with institutions collectively owning 10.69% of the company.
• Sirius XM reported quarterly revenue of $2.16 billion, up 1% year over year and slightly above expectations, but earnings per share of $0.70 fell short of the $0.78 consensus estimate.
• The company maintains a quarterly dividend of $0.27 per share, representing a 3.8% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $30.92, while a director recently sold shares worth about $500,000.

Empowered Funds LLC bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,276 shares of the company's stock, valued at approximately $4,553,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. United Capital Financial Advisors LLC purchased a new stake in shares of Sirius XM during the second quarter valued at approximately $579,000. Lifetime Wealth Management P.C. purchased a new position in Sirius XM in the 2nd quarter worth approximately $7,227,000. Ruggaard & Associates LLC bought a new position in Sirius XM in the 2nd quarter valued at approximately $496,000. Public Employees Retirement System of Ohio purchased a new stake in Sirius XM during the 2nd quarter valued at $1,491,000. Finally, Pure Financial Advisors LLC purchased a new stake in Sirius XM during the 2nd quarter valued at $357,000. 10.69% of the stock is currently owned by institutional investors.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares of the company's stock, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.27% of the company's stock.

More Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: HBO Max expansion could broaden Stern’s audience. Howard Stern is reportedly returning from his summer break with a reduced, once-weekly SiriusXM show that will also receive an edited video version on HBO Max. The arrangement could improve content reach, create additional promotional value and potentially support subscriber engagement, although financial terms were not disclosed. Howard Stern Sets Return From Summer Break, Announces Expansion of SiriusXM Show to HBO Max
• Neutral Sentiment: SiriusXM is emphasizing local and sports programming. The company is bringing WFAN sports-talk hosts to a broader SiriusXM audience and added a weekly show featuring college football coach Brian Kelly. These moves could diversify the content lineup and strengthen sports engagement, but their direct effect on revenue and subscriber growth remains unclear. SiriusXM is going local with your favorite WFAN sports talk radio hosts
• Negative Sentiment: Howard 101 has been removed from the SiriusXM lineup. The elimination of Stern’s second channel, combined with reports that his flagship program will air only once weekly, signals a smaller SiriusXM role for the company’s marquee personality. Stern reportedly expressed dissatisfaction with the change, raising concerns about potential audience loss, weaker exclusive content and increased dependence on a third-party platform such as HBO Max. SiriusXM eliminates Howard Stern's extra channel Howard 101 Howard Stern Cuts SiriusXM Show to Once a Week, Inks HBO Max Deal for Streaming

Sirius XM Stock Down 1.3%

Sirius XM stock opened at $28.17 on Tuesday. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66. The stock has a fifty day moving average of $29.66 and a 200 day moving average of $26.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market cap of $9.50 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The company's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, August 10th. Sirius XM's payout ratio is 43.20%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SIRI. Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price objective on shares of Sirius XM in a research report on Tuesday, July 28th. Morgan Stanley boosted their target price on Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Citigroup restated a "sell" rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Benchmark reiterated a "buy" rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.92.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM's offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.

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