Geode Capital Management LLC Sells 90,052 Shares of Sirius XM Holdings Inc. $SIRI

Geode Capital Management LLC decreased its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,942,171 shares of the company’s stock after selling 90,052 shares during the quarter. Geode Capital Management LLC’s holdings in Sirius XM were worth $90,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIRI. Quaker Wealth Management LLC increased its holdings 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 worth $37,000 after acquiring an additional 3,001 shares during the last quarter. True Wealth Design LLC boosted its position in Sirius XM by 47.8% during the second quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock worth $37,000 after purchasing an additional 523 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in shares of Sirius XM in the second quarter valued at about $48,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in shares of Sirius XM during the 1st quarter worth about $52,000. 10.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SIRI has been the subject of several research analyst reports. Zacks Research upgraded shares of Sirius XM from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Benchmark restated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sirius XM in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Sirius XM in a report on Monday, November 3rd. One equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.29.

Sirius XM Stock Up 3.0%

NASDAQ SIRI opened at $20.52 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.91 billion, a price-to-earnings ratio of -3.04, a PEG ratio of 0.32 and a beta of 0.96. The company has a 50 day moving average of $22.02 and a 200-day moving average of $22.46. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $29.18.

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

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Wednesday, November 5th were given a $0.27 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.3%. Sirius XM’s dividend payout ratio (DPR) is presently 38.16%.

Insider Buying and Selling

In related news, Director Kristina Salen sold 1,845 shares of the company’s stock in a transaction dated 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 sale, the director owned 19,969 shares of the company’s stock, valued at $432,129.16. This represents a 8.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by company insiders.

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.