Columbia Asset Management Grows Stock Holdings in Sirius XM Holdings Inc. $SIRI

Columbia Asset Management raised its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 33.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,280 shares of the company’s stock after acquiring an additional 3,100 shares during the period. Columbia Asset Management’s holdings in Sirius XM were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Unified Investment Management increased its holdings in shares of Sirius XM by 1.4% in the 2nd quarter. Unified Investment Management now owns 30,407 shares of the company’s stock worth $698,000 after buying an additional 425 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Sirius XM by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company’s stock worth $220,000 after buying an additional 475 shares during the last quarter. Geneos Wealth Management Inc. increased 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 worth $41,000 after buying an additional 493 shares during the last quarter. Allegiance Financial Group Advisory Services LLC increased its holdings in shares of Sirius XM by 5.5% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company’s stock worth $286,000 after buying an additional 660 shares during the last quarter. Finally, Polianta Ltd increased its holdings in shares of Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company’s stock worth $1,088,000 after buying an additional 700 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price 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. Morgan Stanley boosted their target price on shares of Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, July 16th. Rosenblatt Securities upped 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. Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a report on Friday, August 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.70.

Sirius XM Price Performance

Shares of SIRI opened at $23.27 on Wednesday. The company has a 50 day moving average price of $22.92 and a 200-day moving average price of $22.38. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $29.18. The stock has a market capitalization of $7.84 billion, a PE ratio of -3.45, a PEG ratio of 0.35 and a beta of 0.95. 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 announced its quarterly earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company posted $0.80 EPS. Sirius XM’s revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. Equities analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

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

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.