Bank of New York Mellon Corp Reduces Position in Sirius XM Holdings Inc. $SIRI

Bank of New York Mellon Corp cut its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,094 shares of the company’s stock after selling 41,166 shares during the quarter. Bank of New York Mellon Corp owned 0.16% of Sirius XM worth $12,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SIRI. Quaker Wealth Management LLC increased its position in shares of Sirius XM by 214.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after purchasing an additional 3,001 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new position in Sirius XM in the 2nd quarter worth approximately $48,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Sirius XM in the first quarter worth $52,000. Finally, State of Wyoming purchased a new stake in Sirius XM in the 1st quarter worth $62,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Performance

Shares of SIRI opened at $20.91 on Wednesday. The stock has a 50-day moving average of $22.22 and a two-hundred day moving average of $22.49. The stock has a market cap of $7.04 billion, a P/E ratio of -3.10, a P/E/G ratio of 0.32 and a beta of 0.96. Sirius XM Holdings Inc. has a one year low of $18.69 and a one year high of $29.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. Sirius XM’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted ($8.74) EPS. Sirius XM has set its FY 2025 guidance at EPS. As a group, research analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is 38.16%.

Insider Activity at Sirius XM

In other news, Director Kristina Salen sold 1,845 shares of Sirius XM stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $21.64, for a total transaction of $39,925.80. Following the completion of the transaction, the director directly owned 19,969 shares of the company’s stock, valued at $432,129.16. The trade was a 8.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research upgraded Sirius XM from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a research report on Monday. Wells Fargo & Company cut 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. Rosenblatt Securities increased their price objective on Sirius XM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Finally, Barrington Research reissued an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average target price of $24.29.

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.