Adage Capital Partners GP L.L.C. Sells 119,320 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Sirius XM by 18.3%, owning approximately 531,402 shares valued at $11.98 million after selling 119,320 shares.
• Sirius XM reported $0.57 EPS for the last quarter, missing estimates by $0.22, while revenue of $2.14 billion was slightly above expectations.
• The company recently declared a quarterly dividend of $0.27, translating to an annual yield of 4.5%, with a negative dividend payout ratio of -16.00%.

Adage Capital Partners GP L.L.C. trimmed its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 18.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 531,402 shares of the company's stock after selling 119,320 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.16% of Sirius XM worth $11,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SIRI. Fuller & Thaler Asset Management Inc. boosted its position in shares of Sirius XM by 661.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,577,176 shares of the company's stock worth $80,630,000 after purchasing an additional 3,107,313 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Sirius XM during the fourth quarter worth $22,398,000. LSV Asset Management boosted its position in shares of Sirius XM by 41.5% during the first quarter. LSV Asset Management now owns 3,197,800 shares of the company's stock worth $72,094,000 after purchasing an additional 937,500 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Sirius XM during the fourth quarter worth $19,052,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Sirius XM by 42.0% during the first quarter. Ameriprise Financial Inc. now owns 2,345,364 shares of the company's stock worth $52,876,000 after purchasing an additional 693,473 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Down 2.2%

NASDAQ:SIRI traded down $0.53 on Friday, hitting $23.28. 2,965,422 shares of the company's stock were exchanged, compared to its average volume of 3,053,960. The firm has a 50-day moving average price of $23.13 and a 200-day moving average price of $22.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $29.18. The company has a market cap of $7.84 billion, a P/E ratio of -3.45, a price-to-earnings-growth ratio of 0.36 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.80 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. As a group, analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 4.6%. Sirius XM's payout ratio is -16.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SIRI shares. Wells Fargo & Company reduced their price target 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. Rosenblatt Securities lifted their price target on shares of Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Zacks Research raised shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Morgan Stanley boosted their price objective 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. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.18.

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.