New Mexico Educational Retirement Board Makes New $1.16 Million Investment in Sirius XM Holdings Inc. $SIRI

Key Points

• New Mexico’s Educational Retirement Board initiated a roughly $1.16 million position in Sirius XM during the second quarter. Several other major institutions also bought or expanded their holdings, though institutional investors collectively own 10.69% of the company.
• Sirius XM’s latest quarter showed mixed results: revenue rose 1% year over year to $2.16 billion, exceeding estimates, while earnings per share of $0.70 missed expectations. The company pays a quarterly dividend of $0.27 per share, representing a 3.8% annualized yield.
• The stock traded near $28.17, while analysts maintained a generally cautious outlook with an average “Hold” rating and a $30.92 price target. Content changes involving Howard Stern—including the removal of Howard 101 and a reduced weekly schedule—could affect subscriber engagement despite expanded HBO Max exposure.

New Mexico Educational Retirement Board bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 39,100 shares of the company's stock, valued at approximately $1,155,000.

A number of other hedge funds also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in Sirius XM during the 2nd quarter valued at about $1,527,300,000. The Manufacturers Life Insurance Company acquired a new stake in Sirius XM in the 2nd quarter valued at about $1,048,227,000. BlackRock Inc. lifted its position in shares of Sirius XM by 82.9% during the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock worth $519,970,000 after purchasing an additional 7,977,045 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Sirius XM during the second quarter valued at approximately $389,110,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Sirius XM in the second quarter valued at approximately $387,690,000. Institutional investors and hedge funds own 10.69% of the company's stock.

Insider Activity

In other news, Director Jonelle Procope sold 16,672 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director owned 18,354 shares of the company's stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.27% of the company's stock.

Key Headlines Impacting Sirius XM

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 Trading Down 1.3%

Sirius XM stock opened at $28.17 on Tuesday. 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 50-day simple moving average of $29.66 and a 200 day simple moving average of $26.58. The stock has a market capitalization of $9.50 billion, a P/E ratio of 11.27, a PEG ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66.

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

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. Sirius XM's dividend payout ratio (DPR) is currently 43.20%.

Analysts Set New Price Targets

Several analysts have commented on SIRI shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $32.00 target price on shares of Sirius XM in a research report on Friday, August 7th. Weiss Ratings raised Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. 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. Guggenheim reiterated a "buy" rating and issued a $35.00 target price (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Finally, Barrington Research upped their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Sirius XM presently has an average rating of "Hold" and an average price target of $30.92.

About Sirius XM

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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