Old West Investment Management LLC Makes New Investment in Sirius XM Holdings Inc. $SIRI

Old West Investment Management LLC purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 140,367 shares of the company’s stock, valued at approximately $3,224,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey grew its position in Sirius XM by 129.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 72,130 shares of the company’s stock worth $1,657,000 after acquiring an additional 40,748 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Sirius XM by 37.6% during the second quarter. SBI Securities Co. Ltd. now owns 11,379 shares of the company’s stock worth $261,000 after purchasing an additional 3,111 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Sirius XM by 4,172.7% in the 2nd quarter. Allworth Financial LP now owns 89,086 shares of the company’s stock worth $2,046,000 after purchasing an additional 87,001 shares in the last quarter. True Wealth Design LLC increased its position in shares of Sirius XM by 47.8% during the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after purchasing an additional 523 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Sirius XM by 27.0% during the 2nd quarter. Penserra Capital Management LLC now owns 177,879 shares of the company’s stock valued at $4,085,000 after buying an additional 37,770 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Down 0.4%

NASDAQ:SIRI opened at $21.60 on Friday. The firm has a market capitalization of $7.27 billion, a P/E ratio of -3.20, a P/E/G ratio of 0.32 and a beta of 0.96. 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 company has a fifty day moving average of $22.40 and a 200 day moving average of $22.47. 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 quarterly earnings data on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($8.74) earnings per share. Sirius XM has set its FY 2025 guidance at EPS. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, November 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 5.0%. Sirius XM’s dividend payout ratio is presently 38.16%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Rosenblatt Securities upped their target price on Sirius XM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sirius XM in a research note on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a report on Monday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Finally, Zacks Research upgraded shares of Sirius XM from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.29.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 1,845 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $21.64, for a total value of $39,925.80. Following the completion of the sale, the director owned 19,969 shares in the company, valued at approximately $432,129.16. This trade represents a 8.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.32% of the company’s stock.

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.