Vanguard Group Inc. Sells 1,752,545 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• Vanguard Group Inc. reduced its holdings in Sirius XM Holdings Inc. by 8.2%, selling 1,752,545 shares, and now owns 5.84% of the company, valued at approximately $445 million.
• Sirius XM recently reported earnings of $0.57 per share, missing estimates by $0.22, with revenue slightly down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, showcasing a 4.7% dividend yield, with a dividend payout ratio of -16.00%.

Vanguard Group Inc. reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,744,902 shares of the company's stock after selling 1,752,545 shares during the period. Vanguard Group Inc. owned 5.84% of Sirius XM worth $445,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Sirius XM in the first quarter worth $25,000. Putney Financial Group LLC bought a new stake in Sirius XM in the fourth quarter worth $27,000. Deseret Mutual Benefit Administrators boosted its holdings in Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after purchasing an additional 705 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Sirius XM by 255.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Sirius XM by 3,263.3% in the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock worth $46,000 after purchasing an additional 1,958 shares in the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Price Performance

Shares of SIRI traded up $0.0350 on Tuesday, hitting $22.8850. The company's stock had a trading volume of 1,054,997 shares, compared to its average volume of 4,466,212. The company has a market capitalization of $7.71 billion, a PE ratio of -3.39, a PEG ratio of 0.35 and a beta of 0.92. 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 fifty-two week low of $18.69 and a fifty-two week high of $36.40. The company has a 50 day moving average price of $22.79 and a 200 day moving average price of $22.69.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its 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). The business had revenue of $2.14 billion during 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 firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. Sirius XM has set its FY 2025 guidance at EPS. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, August 8th. Sirius XM's payout ratio is -16.00%.

Insiders Place Their Bets

In related news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 15,471 shares in the company, valued at $344,539.17. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

SIRI has been the subject of a number of recent research reports. Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. Morgan Stanley upped their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. 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 report on Monday, August 4th. Wells Fargo & Company lowered their price target on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Finally, Zacks Research upgraded Sirius XM from a "strong sell" rating to a "hold" rating in a research note on Friday. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.18.

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.