Cresset Asset Management LLC Raises Holdings in Sirius XM Holdings Inc. $SIRI

Cresset Asset Management LLC lifted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,463 shares of the company’s stock after purchasing an additional 944 shares during the quarter. Cresset Asset Management LLC’s holdings in Sirius XM were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SIRI. Berkshire Hathaway Inc grew its holdings in Sirius XM by 11.7% during the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock valued at $2,678,283,000 after buying an additional 12,313,544 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Sirius XM by 15.6% in the first quarter. IFP Advisors Inc now owns 17,133 shares of the company’s stock valued at $386,000 after purchasing an additional 2,307 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Sirius XM by 29.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company’s stock valued at $1,064,000 after purchasing an additional 10,876 shares in the last quarter. Ninety One UK Ltd increased its position in Sirius XM by 8.3% in the first quarter. Ninety One UK Ltd now owns 191,829 shares of the company’s stock worth $4,325,000 after purchasing an additional 14,718 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in Sirius XM during the fourth quarter valued at $622,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Stock Up 0.3%

Shares of NASDAQ SIRI opened at $23.14 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $7.79 billion, a P/E ratio of -3.43, a PEG ratio of 0.35 and a beta of 0.92. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $33.10. The firm has a 50-day simple moving average of $22.89 and a two-hundred day simple moving average of $22.61.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 31st. The company reported $0.57 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 for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, August 8th. Sirius XM’s dividend payout ratio (DPR) is -16.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SIRI. Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of Sirius XM in a research note on Friday, August 1st. Morgan Stanley lifted their price target on Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 16th. Zacks Research raised Sirius XM from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Guggenheim reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Sirius XM in a research note on Thursday, June 26th. Finally, Wells Fargo & Company dropped their target price on Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, August 1st. One equities research 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.com, the stock currently has an average rating of “Hold” and a consensus 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.