Hsbc Holdings PLC Decreases Stake in Sirius XM Holdings Inc. $SIRI

Key Points

• Hsbc Holdings PLC reduced its stake in Sirius XM Holdings Inc. by 74.5%, selling 38,355 shares in the first quarter and holding just 13,104 shares worth $295,000 as per its recent SEC filing.
• Sirius XM reported earnings per share (EPS) of $0.57 for the last quarter, missing the analysts' consensus of $0.79, although revenue was slightly above expectations at $2.14 billion.
• The company declared a quarterly dividend of $0.27 per share, reflecting an annualized dividend yield of 4.6% and a negative payout ratio of -16.00%.

Hsbc Holdings PLC trimmed its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 74.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,104 shares of the company's stock after selling 38,355 shares during the period. Hsbc Holdings PLC's holdings in Sirius XM were worth $295,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SIRI. Opal Wealth Advisors LLC acquired a new position in shares of Sirius XM during the 1st quarter valued at about $25,000. Putney Financial Group LLC bought a new position in Sirius XM during the fourth quarter worth $27,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Sirius XM by 79.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after purchasing an additional 705 shares during the period. Golden State Wealth Management LLC increased 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 in the last quarter. Finally, Richards Merrill & Peterson Inc. purchased a new position in Sirius XM during the 1st quarter valued at about $52,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price target on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Zacks Research raised Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Wells Fargo & Company cut their price objective on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Guggenheim reissued a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Finally, Morgan Stanley boosted their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. One 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 given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $26.18.

Sirius XM Stock Performance

SIRI stock traded up $0.40 on Monday, reaching $24.46. 2,637,371 shares of the company were exchanged, compared to its average volume of 4,379,978. The firm has a market capitalization of $8.23 billion, a PE ratio of -3.62, a PEG ratio of 0.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. The stock's fifty day moving average price is $23.13 and its 200 day moving average price is $22.44. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $29.18.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued 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 positive return on equity of 3.73% and a negative net margin of 26.41%.The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders 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 4.4%. The ex-dividend date of this dividend was Friday, August 8th. Sirius XM's payout ratio is presently -16.00%.

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.