Sirius XM Holdings Inc. $SIRI Holdings Cut by Private Management Group Inc.

Key Points

• Private Management Group reduced its Sirius XM stake by 14.8% in the third quarter, selling 182,558 shares and ending the period with 1,051,944 shares.
• Sirius XM reported quarterly EPS of $0.78, slightly above estimates, while revenue of $2.15 billion missed forecasts and declined 0.4% year over year. The company declared a quarterly dividend of $0.27 per share.
• Analyst sentiment was mixed: MarketBeat reported an average rating of Hold and an average price target of $32.92.

Private Management Group Inc. trimmed its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 14.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,944 shares of the company's stock after selling 182,558 shares during the period. Private Management Group Inc. owned 0.31% of Sirius XM worth $27,224,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fulcrum Asset Management LLP boosted its stake in Sirius XM by 92.7% during the third quarter. Fulcrum Asset Management LLP now owns 21,966 shares of the company's stock valued at $566,000 after buying an additional 10,564 shares during the period. Kestra Advisory Services LLC increased its stake in Sirius XM by 114.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 22,755 shares of the company's stock worth $589,000 after acquiring an additional 12,138 shares during the last quarter. Associated Banc Corp bought a new position in Sirius XM in the 3rd quarter worth about $2,821,000. Capital Management Corp VA raised its holdings in shares of Sirius XM by 4.3% in the 3rd quarter. Capital Management Corp VA now owns 444,919 shares of the company's stock valued at $11,514,000 after acquiring an additional 18,528 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sirius XM in the 3rd quarter valued at about $128,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $32.67 on Tuesday. The firm's 50-day moving average is $27.94 and its 200 day moving average is $26.51. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 0.55 and a beta of 0.98. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $33.76. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.32 and a quick ratio of 0.32.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Sirius XM had a net margin of 10.47% and a return on equity of 9.42%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.00 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 6th will be given a $0.27 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.08 annualized dividend and a yield of 3.3%. Sirius XM's dividend payout ratio (DPR) is presently 44.26%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SIRI. Rosenblatt Securities set a $47.00 price target on Sirius XM and gave the company a "buy" rating in a research report on Friday, October 30th. Wells Fargo & Company upped their price objective on shares of Sirius XM from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, October 30th. Wolfe Research initiated coverage on shares of Sirius XM in a research note on Wednesday, September 2nd. They issued an "outperform" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Sirius XM in a research note on Wednesday, September 2nd. They issued an "overweight" rating on the stock. Finally, Morgan Stanley boosted their price target on shares of Sirius XM from $24.00 to $28.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Sirius XM currently has an average rating of "Hold" and an average price target of $32.92.

Key Stories Impacting Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Incoming CEO Anjali Sud previously led Tubi, bringing experience in digital media and streaming that could be relevant as SiriusXM develops its business. She is set to take over on January 1, 2027. SiriusXM names Tubi chief Anjali Sud as CEO
• Neutral Sentiment: Current CEO Jennifer Witz is stepping down after nearly 25 years with the company and will remain in an advisory role through the end of 2027, providing some continuity during the transition. The articles do not report new financial targets or other immediate operational changes. SiriusXM Announces CEO Transition
• Negative Sentiment: Investors initially appeared cautious about the succession: a report said SIRI shares slipped in premarket trading after Sud’s appointment was announced. SiriusXM stock slips as Anjali Sud named new CEO

Sirius XM Company Profile

Sirius XM Holdings Inc provides audio entertainment through its SiriusXM and Pandora services. SiriusXM offers music, talk, news, sports, and other programming through satellite radio and streaming, including access through its mobile app and in-vehicle systems.

The company also operates Pandora, a streaming music and podcast service that offers both ad-supported and subscription listening. Its business includes advertising and connected-vehicle services, alongside subscriptions and audio programming.

SiriusXM serves listeners in the United States and Canada.

Want to see what other hedge funds are holding SIRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.