Smead Capital Management Inc. Decreases Stake in Sirius XM Holdings Inc. $SIRI

Key Points

• Smead Capital Management Inc. reduced its holdings in Sirius XM Holdings by 8.6%, selling 229,564 shares, and now owns 2,450,931 shares.
• Several brokerages have issued varying ratings and price targets for Sirius XM, with Guggenheim maintaining a "buy" rating and a target price of $29.00.
• Sirius XM reported a missed earnings estimate for the last quarter, with earnings per share of $0.57 compared to an expected $0.79, alongside a decrease in year-over-year revenue of 1.8%.

Smead Capital Management Inc. cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,450,931 shares of the company's stock after selling 229,564 shares during the period. Sirius XM accounts for 0.9% of Smead Capital Management Inc.'s portfolio, making the stock its 28th largest holding. Smead Capital Management Inc. owned 0.73% of Sirius XM worth $55,256,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Sirius XM in the first quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of Sirius XM during the 4th quarter valued at $27,000. Deseret Mutual Benefit Administrators raised its position in shares of Sirius XM by 79.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after purchasing an additional 705 shares during the period. Itau Unibanco Holding S.A. raised its position in shares of Sirius XM by 255.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock valued at $42,000 after purchasing an additional 1,321 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Sirius XM by 3,263.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock valued at $46,000 after purchasing an additional 1,958 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SIRI. Barrington Research restated an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a research report on Friday, August 1st. Wells Fargo & Company decreased their target price on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Morgan Stanley upped their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Guggenheim reiterated a "buy" rating and set a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Finally, Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $26.18.

Sirius XM Stock Up 1.2%

NASDAQ:SIRI traded up $0.27 during midday trading on Friday, reaching $23.64. 2,568,093 shares of the stock traded hands, compared to its average volume of 4,109,826. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $33.10. The business has a 50-day moving average of $23.01 and a two-hundred day moving average of $22.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $7.96 billion, a PE ratio of -3.50, a price-to-earnings-growth ratio of 0.36 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.57 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 analysts' expectations of $2.13 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The company's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. On average, equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.6%. Sirius XM's dividend payout ratio (DPR) is currently -16.00%.

About Sirius XM

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.