FPR Partners LLC Sells 1,957,000 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• FPR Partners LLC recently reduced its stake in Sirius XM by 30.8%, yet it remains the firm's largest investment, constituting 17.0% of their portfolio.
• Sirius XM's recent earnings report showed an EPS of $0.57, falling short of the consensus estimate of $0.79, while quarterly revenue decreased by 1.8% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, equating to an annual yield of 4.9%, with the record date set for August 8th.

FPR Partners LLC lowered its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 30.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,395,520 shares of the company's stock after selling 1,957,000 shares during the quarter. Sirius XM makes up 17.0% of FPR Partners LLC's portfolio, making the stock its biggest holding. FPR Partners LLC owned approximately 1.30% of Sirius XM worth $99,097,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new position in Sirius XM during the first quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Sirius XM during the fourth quarter valued at approximately $27,000. Deseret Mutual Benefit Administrators boosted its stake in 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 buying an additional 705 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock valued at $42,000 after buying an additional 1,321 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Sirius XM by 3,263.3% during the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock valued at $46,000 after buying an additional 1,958 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

Wall Street Analyst Weigh In

SIRI has been the subject of several analyst reports. Morgan Stanley raised their price objective on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price objective on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Guggenheim reiterated a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Rosenblatt Securities raised their price objective on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Zacks Research raised Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.18.

Sirius XM Stock Performance

Shares of SIRI stock traded up $0.42 on Wednesday, hitting $23.56. The company had a trading volume of 1,131,857 shares, compared to its average volume of 4,426,866. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $33.10. The company has a 50-day moving average price of $22.89 and a 200-day moving average price of $22.61. The firm has a market cap of $7.93 billion, a P/E ratio of -3.48, a price-to-earnings-growth ratio of 0.35 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. Sirius XM's revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, August 8th. Sirius XM's payout ratio is currently -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.