Sirius XM Holdings Inc. $SIRI Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Sirius XM Holdings Inc. by 65.2%, acquiring an additional 96,812 shares in the first quarter, bringing its total ownership to 245,212 shares valued at approximately $5.5 million.
• Sirius XM reported a Q2 earnings per share of $0.57, missing estimates of $0.79, while also reporting a 1.8% decline in year-over-year revenue to $2.14 billion.
• The company announced a quarterly dividend of $0.27 per share, resulting in a 4.6% dividend yield, despite a negative payout ratio of -16.00%.

Advisors Asset Management Inc. grew its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 65.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,212 shares of the company's stock after buying an additional 96,812 shares during the period. Advisors Asset Management Inc. owned approximately 0.07% of Sirius XM worth $5,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amundi grew its stake in shares of Sirius XM by 155.3% in the 1st quarter. Amundi now owns 156,465 shares of the company's stock worth $3,306,000 after buying an additional 95,174 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Sirius XM by 29.7% in the 1st quarter. Ancora Advisors LLC now owns 59,345 shares of the company's stock worth $1,338,000 after buying an additional 13,600 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Sirius XM in the 1st quarter worth $270,000. Caption Management LLC boosted its position in Sirius XM by 102.3% in the 1st quarter. Caption Management LLC now owns 7,184 shares of the company's stock valued at $162,000 after buying an additional 325,384 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in Sirius XM by 6.0% in the 1st quarter. Evergreen Capital Management LLC now owns 31,459 shares of the company's stock valued at $709,000 after buying an additional 1,769 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SIRI. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Morgan Stanley boosted their price target on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Guggenheim restated a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Rosenblatt Securities boosted their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $26.18.

Sirius XM Price Performance

NASDAQ:SIRI traded down $0.16 during trading hours on Tuesday, reaching $24.27. 3,035,449 shares of the company were exchanged, compared to its average volume of 4,380,938. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89. The stock's 50-day moving average is $23.16 and its 200-day moving average is $22.44. The firm has a market cap of $8.17 billion, a PE ratio of -3.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $29.18.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Sirius XM has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, August 8th. Sirius XM's dividend payout ratio is -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.