Allegiance Financial Group Advisory Services LLC Raises Position in Sirius XM Holdings Inc. $SIRI

Allegiance Financial Group Advisory Services LLC boosted its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,481 shares of the company’s stock after buying an additional 2,803 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Sirius XM were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Sirius XM in the first quarter worth about $25,000. Deseret Mutual Benefit Administrators lifted its holdings in Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company’s stock worth $36,000 after buying an additional 705 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Sirius XM by 36.7% in the first 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 period. Golden State Wealth Management LLC lifted its holdings in Sirius XM by 3,263.3% in the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company’s stock worth $46,000 after buying an additional 1,958 shares during the period. Finally, Richards Merrill & Peterson Inc. purchased a new stake in Sirius XM in the first quarter worth about $52,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Price Performance

Shares of SIRI opened at $22.58 on Thursday. The company has a market capitalization of $7.60 billion, a P/E ratio of -3.35, a price-to-earnings-growth ratio of 0.35 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. The firm has a 50 day moving average of $22.81 and a 200 day moving average of $22.38. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $29.18.

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 negative net margin of 26.41% and a positive return on equity of 3.73%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business earned $0.80 EPS. Sirius XM’s revenue was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, August 8th. Sirius XM’s payout ratio is -16.00%.

Wall Street Analyst Weigh In

Several analysts have commented on SIRI shares. Zacks Research upgraded shares of Sirius XM from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. Wells Fargo & Company decreased their target price on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, August 1st. Guggenheim reaffirmed a “buy” rating and set a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Finally, Morgan Stanley raised their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday, July 16th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.70.

Sirius XM Company 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.