First Manhattan CO. LLC. Has $7.02 Million Stock Holdings in Sirius XM Holdings Inc. $SIRI

Key Points

• First Manhattan CO. LLC. has reduced its stake in Sirius XM Holdings Inc. by 12.9%, owning approximately 311,226 shares valued at $7 million after selling 46,059 shares.
• Several hedge funds have modified their Sirius XM holdings, with IFP Advisors Inc. increasing its stake by 15.6% and Cambridge Investment Research Advisors Inc. by 29.9% during the same period.
• Sirius XM recently reported $0.57 EPS, missing analyst estimates, and announced a quarterly dividend of $0.27 with a dividend yield of 4.6%.

First Manhattan CO. LLC. reduced its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 311,226 shares of the company's stock after selling 46,059 shares during the period. First Manhattan CO. LLC. owned about 0.09% of Sirius XM worth $7,017,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Sirius XM during the 1st quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of Sirius XM during the 4th quarter valued at about $27,000. Deseret Mutual Benefit Administrators boosted its position 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 acquiring an additional 705 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Sirius XM by 3,263.3% during the 1st 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. acquired a new stake in shares of Sirius XM during the 1st quarter valued at about $52,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SIRI. Rosenblatt Securities lifted their target price on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Barrington Research reiterated an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, August 1st. Morgan Stanley increased their target price on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.18.

Sirius XM Price Performance

NASDAQ:SIRI traded up $0.48 during mid-day trading on Friday, reaching $24.06. 3,678,042 shares of the company were exchanged, compared to its average volume of 3,461,091. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $29.18. The company has a fifty day moving average of $23.13 and a 200 day moving average of $22.48. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. The stock has a market cap of $8.10 billion, a PE ratio of -3.56, a PEG ratio of 0.36 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.22). The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.80 EPS. 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 fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, August 8th. Sirius XM's dividend payout ratio (DPR) is currently -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.