FORA Capital LLC Takes Position in Sirius XM Holdings Inc. $SIRI

Key Points

• FORA Capital LLC has acquired a new position in Sirius XM Holdings Inc., purchasing 74,488 shares valued at approximately $1.68 million during the first quarter.
• Sirius XM reported a $0.57 earnings per share for the quarter, missing expectations by $0.22, with revenue totaling $2.14 billion.
• The company announced a quarterly dividend of $0.27, with an annualized yield of 4.7%, set to be paid to shareholders on August 27th.

FORA Capital LLC purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 74,488 shares of the company's stock, valued at approximately $1,679,000.

A number of other large investors also recently modified their holdings of SIRI. Opal Wealth Advisors LLC bought a new position in shares of Sirius XM in the 1st quarter worth $25,000. Putney Financial Group LLC purchased a new stake in Sirius XM in the 4th quarter worth about $27,000. Deseret Mutual Benefit Administrators increased its holdings in Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after acquiring an additional 705 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Sirius XM by 255.5% in the 4th 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 during the period. Finally, Golden State Wealth Management LLC boosted its stake 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 purchasing an additional 1,958 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SIRI. 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. Rosenblatt Securities boosted their target price on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Morgan Stanley boosted their target price on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company dropped their target price 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. Finally, Guggenheim restated a "buy" rating and issued a $29.00 target price on shares of Sirius XM in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.18.

Sirius XM Trading Up 1.2%

SIRI stock traded up $0.27 during midday trading on Friday, hitting $23.64. The company had a trading volume of 2,568,093 shares, compared to its average volume of 4,433,618. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $33.10. The stock's 50 day moving average price is $23.01 and its 200 day moving average price is $22.58. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of -3.50, a PEG ratio of 0.36 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced 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 company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Sirius XM's dividend payout ratio is presently -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.