Maryland State Retirement & Pension System Sells 2,261 Shares of Sirius XM Holdings Inc. $SIRI

Maryland State Retirement & Pension System trimmed its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,225 shares of the company’s stock after selling 2,261 shares during the period. Maryland State Retirement & Pension System’s holdings in Sirius XM were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Sirius XM during the 1st quarter worth about $25,000. Deseret Mutual Benefit Administrators boosted 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 buying an additional 705 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares in the last quarter. Golden State Wealth Management LLC boosted 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 buying an additional 1,958 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. bought a new stake in shares of Sirius XM in the 1st quarter valued at about $52,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Up 1.6%

SIRI stock opened at $21.80 on Wednesday. The firm has a 50 day moving average of $22.83 and a 200 day moving average of $22.31. The stock has a market capitalization of $7.34 billion, a PE ratio of -3.23, a price-to-earnings-growth ratio of 0.33 and a beta of 0.93. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $29.18.

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

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, August 8th. Sirius XM’s payout ratio is presently -16.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SIRI. Guggenheim restated a “buy” rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a report on Friday, August 1st. Rosenblatt Securities raised their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Sirius XM in a report on Tuesday. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $24.89.

Sirius XM 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.