Paralel Advisors LLC Buys Shares of 118,502 Sirius XM Holdings Inc. $SIRI

Key Points

• Paralel Advisors LLC acquired 118,502 shares of Sirius XM Holdings Inc. valued at approximately $2.7 million during the second quarter.
• Sirius XM's most recent earnings report showed an EPS of $0.57, missing analyst expectations, with revenue of $2.14 billion for the quarter.
• The company announced a quarterly dividend of $0.27 per share, representing a 5.0% yield, with the payout scheduled for November 21st.

Paralel Advisors LLC bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 118,502 shares of the company's stock, valued at approximately $2,722,000.

A number of other large investors have also recently bought and sold shares of SIRI. Brighton Jones LLC purchased a new position in shares of Sirius XM during the 4th quarter worth $622,000. Exchange Traded Concepts LLC raised its position in Sirius XM by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 4,620 shares of the company's stock valued at $104,000 after purchasing an additional 4,280 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Sirius XM by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,534 shares of the company's stock worth $2,492,000 after acquiring an additional 5,858 shares during the period. Kentucky Retirement Systems acquired a new stake in Sirius XM during the 1st quarter valued at $331,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Sirius XM by 29.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company's stock worth $1,064,000 after acquiring an additional 10,876 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SIRI shares. Weiss Ratings restated a "sell (d+)" rating on shares of Sirius XM in a research note on Tuesday, October 14th. Zacks Research raised shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Barrington Research reaffirmed an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a report on Friday, August 1st. Morgan Stanley boosted their price objective on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Sirius XM has an average rating of "Hold" and an average price target of $24.89.

Sirius XM Price Performance

SIRI stock opened at $21.75 on Thursday. Sirius XM Holdings Inc. has a one year low of $18.69 and a one year high of $29.18. The firm has a 50-day moving average of $22.87 and a two-hundred day moving average of $22.31. The firm has a market capitalization of $7.32 billion, a PE ratio of -3.22, a P/E/G ratio of 0.34 and a beta of 0.93. 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 (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates 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 was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. On average, analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, November 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 5th. Sirius XM's payout ratio is -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.

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