Fuller & Thaler Asset Management Inc. Buys 3,107,313 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• Fuller & Thaler Asset Management Inc. significantly increased its stake in Sirius XM Holdings by 661.3%, acquiring over 3.1 million additional shares, bringing their total holdings to approximately 3.58 million shares valued at around $80.6 million.
• Sirius XM reported $0.57 earnings per share for its latest quarter, missing estimates by $0.22, and experienced a 1.8% decrease in revenuestrong> compared to the same quarter last year.
• The company announced a quarterly dividend of $0.27 per share with a yield of 4.7%, scheduled for payment to shareholders of record on August 8.

Fuller & Thaler Asset Management Inc. increased its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 661.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,577,176 shares of the company's stock after acquiring an additional 3,107,313 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 1.06% of Sirius XM worth $80,630,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Sirius XM in the 1st quarter valued at $4,444,000. Penn Mutual Asset Management acquired a new stake in Sirius XM during the 1st quarter worth about $225,000. Algert Global LLC lifted its stake in Sirius XM by 36.1% during the first quarter. Algert Global LLC now owns 155,272 shares of the company's stock valued at $3,501,000 after buying an additional 41,170 shares in the last quarter. Aldebaran Capital LLC boosted its holdings in shares of Sirius XM by 93.2% in the first quarter. Aldebaran Capital LLC now owns 83,285 shares of the company's stock worth $1,878,000 after buying an additional 40,172 shares during the period. Finally, Knuff & Co LLC increased its position in shares of Sirius XM by 2.1% in the first quarter. Knuff & Co LLC now owns 49,332 shares of the company's stock worth $1,112,000 after acquiring an additional 1,000 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of Sirius XM stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the sale, the director owned 15,471 shares of the company's stock, valued at approximately $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.32% of the stock is currently owned by company insiders.

Sirius XM Stock Up 5.3%

NASDAQ SIRI traded up $1.18 on Friday, reaching $23.44. The stock had a trading volume of 3,752,752 shares, compared to its average volume of 4,956,021. 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 Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $33.35. The business has a 50 day moving average price of $22.83 and a 200 day moving average price of $22.66. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -3.47, a P/E/G ratio of 0.34 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 (EPS) for the quarter, missing the consensus estimate 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 quarterly 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 earnings per share. Sirius XM has set its FY 2025 guidance at EPS. On average, analysts forecast 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 will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's payout ratio is currently -16.00%.

Wall Street Analyst Weigh In

SIRI has been the subject of several research analyst reports. Rosenblatt Securities upped their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Guggenheim reissued a "buy" rating and issued a $29.00 price objective on shares of Sirius XM in a research note on Thursday, June 26th. Barrington Research reaffirmed an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. Wells Fargo & Company dropped their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Finally, Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of "Hold" and a consensus target price of $26.18.

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.