Sirius XM Holdings Inc. $SIRI Stake Cut by Northern Trust Corp

Northern Trust Corp reduced its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,254,985 shares of the company’s stock after selling 54,457 shares during the period. Northern Trust Corp owned about 0.37% of Sirius XM worth $28,294,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Sirius XM during the 4th quarter worth about $622,000. Tower Research Capital LLC TRC raised its stake in shares of Sirius XM by 55.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,842 shares of the company’s stock worth $88,000 after purchasing an additional 1,371 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Sirius XM by 63.4% during the 4th quarter. Stifel Financial Corp now owns 108,953 shares of the company’s stock worth $2,484,000 after purchasing an additional 42,255 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Sirius XM by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 144,585 shares of the company’s stock worth $3,297,000 after purchasing an additional 3,211 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sirius XM by 94.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 26,925 shares of the company’s stock worth $614,000 after purchasing an additional 13,112 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $23.64 on Friday. 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 business’s 50 day moving average is $23.01 and its two-hundred day moving average is $22.56. The company has a market cap of $7.96 billion, a P/E ratio of -3.50, a P/E/G ratio of 0.36 and a beta of 0.92. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $33.10.

Sirius XM (NASDAQ:SIRI) last issued its quarterly 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 the consensus estimate of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Sirius XM has set its FY 2025 guidance at EPS. On average, equities analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

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 $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Sirius XM’s payout ratio is currently -16.00%.

Wall Street Analysts Forecast Growth

SIRI has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, August 1st. Morgan Stanley increased their price objective on Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 16th. Guggenheim reissued a “buy” rating and set a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Rosenblatt Securities increased their price objective on Sirius XM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Finally, Zacks Research raised Sirius XM from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.18.

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.