State of Alaska Department of Revenue Acquires 30,000 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• The State of Alaska Department of Revenue increased its holdings in Sirius XM Holdings Inc. by 22.3% in Q2, acquiring an additional 30,000 shares, bringing their total to 164,242 shares valued at $3.77 million.
• Several hedge funds significantly boosted their positions in Sirius XM, with Fuller & Thaler Asset Management increasing its shares by 661.3% during Q1.
• Sirius XM reported a Q2 EPS of $0.57, missing estimates by $0.22, with revenue of $2.14 billion, reflecting a 1.8% decline year-over-year.

State of Alaska Department of Revenue grew its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 22.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,242 shares of the company's stock after purchasing an additional 30,000 shares during the quarter. State of Alaska Department of Revenue's holdings in Sirius XM were worth $3,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of SIRI. Fuller & Thaler Asset Management Inc. boosted its position in shares of Sirius XM by 661.3% in 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 during the period. AQR Capital Management LLC boosted its position in shares of Sirius XM by 209.9% in the first quarter. AQR Capital Management LLC now owns 1,957,518 shares of the company's stock worth $43,770,000 after purchasing an additional 1,325,870 shares during the period. LSV Asset Management boosted its position in shares of Sirius XM by 41.5% in 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 during the period. Ameriprise Financial Inc. boosted its position in shares of Sirius XM by 42.0% in 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 during the period. Finally, Chou Associates Management Inc. boosted its position in shares of Sirius XM by 5,479.5% in the first quarter. Chou Associates Management Inc. now owns 702,462 shares of the company's stock worth $15,837,000 after purchasing an additional 689,872 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company dropped their target price 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. Guggenheim restated a "buy" rating and set a $29.00 target price on shares of Sirius XM in a research report on Thursday, June 26th. Barrington Research restated an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, August 1st. Finally, Rosenblatt Securities upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Sirius XM presently has an average rating of "Hold" and an average price target of $26.70.

Sirius XM Price Performance

SIRI stock opened at $22.69 on Tuesday. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $29.18. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $22.38. The firm has a market capitalization of $7.64 billion, a P/E ratio of -3.36, a price-to-earnings-growth ratio of 0.35 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings data 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 negative net margin of 26.41% and a positive return on equity of 3.73%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business earned $0.80 EPS. Sirius XM's revenue for the quarter was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 4.8%. Sirius XM's dividend payout ratio is currently -16.00%.

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.

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