LSV Asset Management Reduces Position in Sirius XM Holdings Inc. $SIRI

LSV Asset Management trimmed its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,193,600 shares of the company’s stock after selling 4,200 shares during the quarter. LSV Asset Management’s holdings in Sirius XM were worth $73,357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its holdings in Sirius XM by 26.5% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 3,800 shares of the company’s stock worth $87,000 after acquiring an additional 795 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of Sirius XM by 20.2% in the second quarter. Alberta Investment Management Corp now owns 1,486,226 shares of the company’s stock worth $34,139,000 after purchasing an additional 250,000 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Sirius XM during the 2nd quarter valued at about $44,000. Cetera Investment Advisers raised its position in Sirius XM by 5.3% during the 2nd quarter. Cetera Investment Advisers now owns 47,334 shares of the company’s stock valued at $1,087,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Old West Investment Management LLC purchased a new stake in Sirius XM in the 2nd quarter worth approximately $3,224,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. 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. Barrington Research reaffirmed an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research note on Monday, November 3rd. Finally, Rosenblatt Securities increased their price target on shares of Sirius XM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.29.

Sirius XM Stock Performance

Shares of SIRI opened at $21.10 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 stock has a market cap of $7.10 billion, a P/E ratio of -3.13, a P/E/G ratio of 0.32 and a beta of 0.96. The business’s 50 day moving average price is $22.28 and its 200-day moving average price is $22.49.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned ($8.74) earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, November 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 5th. Sirius XM’s dividend payout ratio is 38.16%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 1,845 shares of Sirius XM stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $21.64, for a total value of $39,925.80. Following the completion of the transaction, the director directly owned 19,969 shares of the company’s stock, valued at approximately $432,129.16. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.32% of the company’s stock.

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.