Federated Hermes Inc. Raises Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• Federated Hermes Inc. increased its position in Sirius XM Holdings Inc. by 408,076.9% in Q1, holding 53,063 shares valued at approximately $1.20 million.
• Sirius XM reported earnings per share of $0.57 for the latest quarter, missing expectations by $0.22, and experienced a 1.8% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.27, expected to yield 5.2% annually, with a payout ratio currently at -16.00%.

Federated Hermes Inc. boosted its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 408,076.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 53,063 shares of the company's stock after purchasing an additional 53,050 shares during the period. Federated Hermes Inc.'s holdings in Sirius XM were worth $1,196,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its holdings in shares of Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after purchasing an additional 12,313,544 shares during the period. LSV Asset Management acquired a new position in shares of Sirius XM during the fourth quarter worth about $51,535,000. Toronto Dominion Bank acquired a new stake in Sirius XM in the fourth quarter valued at about $22,398,000. Ensign Peak Advisors Inc acquired a new stake in Sirius XM in the fourth quarter valued at about $19,052,000. Finally, Ameriprise Financial Inc. increased its position in Sirius XM by 69.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,651,891 shares of the company's stock worth $37,663,000 after purchasing an additional 675,924 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Trading Up 1.6%

Sirius XM stock traded up $0.34 during trading on Thursday, hitting $21.31. The company's stock had a trading volume of 5,177,470 shares, compared to its average volume of 4,133,995. The stock's fifty day moving average is $22.72 and its 200 day moving average is $22.69. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $36.40. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of -3.16, a P/E/G ratio of 0.32 and a beta of 0.92. 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 (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.80 EPS. The company's revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's payout ratio is -16.00%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Rosenblatt Securities raised their price target on Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday. Morgan Stanley boosted their price target on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, August 1st. Guggenheim reaffirmed a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Finally, Wells Fargo & Company dropped their price target on Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $26.18.

Insider Transactions at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director owned 15,471 shares of the company's stock, valued at approximately $344,539.17. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.32% of the company's stock.

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.