AlphaQuest LLC Acquires 59,658 Shares of Sirius XM Holdings Inc. $SIRI

AlphaQuest LLC lifted its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 309.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 78,910 shares of the company’s stock after buying an additional 59,658 shares during the period. AlphaQuest LLC’s holdings in Sirius XM were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIRI. Brighton Jones LLC bought a new stake in shares of Sirius XM in the fourth quarter valued at about $622,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Sirius XM by 29.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company’s stock valued at $1,064,000 after acquiring an additional 10,876 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of 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 valued at $46,000 after acquiring an additional 1,958 shares in the last quarter. swisspartners Advisors Ltd raised its holdings in shares of Sirius XM by 107.1% in the first quarter. swisspartners Advisors Ltd now owns 301,296 shares of the company’s stock valued at $6,794,000 after acquiring an additional 155,818 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Sirius XM by 79.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company’s stock valued at $36,000 after acquiring an additional 705 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SIRI. Morgan Stanley lifted their price objective on Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Sirius XM in a report on Tuesday, October 14th. Wells Fargo & Company reduced their target price on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, August 1st. Rosenblatt Securities boosted their target price on shares of Sirius XM from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Zacks Research upgraded shares of Sirius XM from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.13.

Sirius XM Price Performance

Shares of SIRI stock opened at $21.40 on Friday. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $29.18. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -3.17, a PEG ratio of 0.33 and a beta of 0.93. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The stock’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $22.33.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm posted $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 analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, November 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. Sirius XM’s payout ratio is presently -16.00%.

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.