Hsbc Holdings PLC Sells 38,355 Shares of Sirius XM Holdings Inc. $SIRI

Hsbc Holdings PLC lowered its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 74.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,104 shares of the company’s stock after selling 38,355 shares during the quarter. Hsbc Holdings PLC’s holdings in Sirius XM were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Sirius XM in the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of Sirius XM in the 4th quarter valued at about $27,000. Deseret Mutual Benefit Administrators raised its holdings in shares of Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company’s stock valued at $36,000 after acquiring an additional 705 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Sirius XM by 3,263.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company’s stock valued at $46,000 after acquiring an additional 1,958 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. purchased a new stake in shares of Sirius XM in the 1st quarter valued at about $52,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $23.53 on Thursday. 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 business’s 50 day simple moving average is $23.08 and its two-hundred day simple moving average is $22.52. The stock has a market capitalization of $7.92 billion, a P/E ratio of -3.49, a price-to-earnings-growth ratio of 0.36 and a beta of 0.95. Sirius XM Holdings Inc. has a one year low of $18.69 and a one year high of $31.40.

Sirius XM (NASDAQ:SIRI) last announced its quarterly 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). The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.Sirius XM’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Sirius XM has set its FY 2025 guidance at EPS. Analysts forecast that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 4.6%. Sirius XM’s payout ratio is currently -16.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SIRI. Morgan Stanley raised their price target on Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 16th. Zacks Research raised Sirius XM from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. 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. Rosenblatt Securities raised 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, Wells Fargo & Company decreased their price objective on Sirius XM from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently 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.