Wealth Enhancement Advisory Services LLC Purchases 44,752 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Sirius XM Holdings Inc. by 48.8%, acquiring an additional 44,752 shares, which brought their total holdings to 136,417 shares valued at approximately $3.31 million.
• Sirius XM reported a Q2 earnings per share (EPS) of $0.57, missing the analysts' expectations of $0.79 and showing a 1.8% decline in revenue year-over-year to $2.14 billion.
• The company declared a quarterly dividend of $0.27 per share, contributing to an annualized yield of 4.8%, despite a negative dividend payout ratio of -16.00%.

Wealth Enhancement Advisory Services LLC raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 48.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,417 shares of the company's stock after buying an additional 44,752 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Sirius XM were worth $3,314,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sivia Capital Partners LLC bought a new stake in Sirius XM in the 2nd quarter valued at about $208,000. Pallas Capital Advisors LLC increased its holdings in Sirius XM by 55.9% during the 2nd quarter. Pallas Capital Advisors LLC now owns 33,846 shares of the company's stock worth $777,000 after acquiring an additional 12,141 shares during the period. Krilogy Financial LLC increased its holdings in Sirius XM by 102.0% during the 2nd quarter. Krilogy Financial LLC now owns 32,272 shares of the company's stock worth $741,000 after acquiring an additional 16,293 shares during the period. Parallel Advisors LLC increased its holdings in shares of Sirius XM by 68.5% in the second quarter. Parallel Advisors LLC now owns 3,499 shares of the company's stock worth $80,000 after purchasing an additional 1,423 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Sirius XM by 3.8% in the first quarter. Voya Investment Management LLC now owns 28,342 shares of the company's stock worth $639,000 after purchasing an additional 1,035 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Up 1.4%

Shares of SIRI opened at $22.70 on Friday. The firm has a market cap of $7.64 billion, a P/E ratio of -3.36, a P/E/G ratio of 0.34 and a beta of 0.95. The stock has a 50 day simple moving average of $22.94 and a two-hundred day simple moving average of $22.38. 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 1 year low of $18.69 and a 1 year high of $29.18.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the company posted $0.80 EPS. Sirius XM's revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. On average, analysts forecast 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 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. This represents a $1.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, August 8th. Sirius XM's dividend payout ratio is presently -16.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Rosenblatt Securities boosted their price objective on Sirius XM from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Barrington Research reissued an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. Zacks Research raised Sirius XM from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Guggenheim reissued a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $26.70.

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.

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