Cwm LLC Raises Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Posted by Defense World Staff on Apr 23rd, 2023

Cwm LLC lifted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,395 shares of the company’s stock after purchasing an additional 20,989 shares during the period. Cwm LLC’s holdings in Sirius XM were worth $592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal London Asset Management Ltd. lifted its stake in shares of Sirius XM by 0.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 255,751 shares of the company’s stock valued at $1,462,000 after buying an additional 1,631 shares in the last quarter. Lester Murray Antman dba SimplyRich raised its stake in shares of Sirius XM by 1.9% during the 3rd quarter. Lester Murray Antman dba SimplyRich now owns 91,865 shares of the company’s stock valued at $524,000 after purchasing an additional 1,708 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Sirius XM by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after purchasing an additional 1,845 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Sirius XM by 6.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 30,720 shares of the company’s stock valued at $175,000 after purchasing an additional 1,941 shares during the period. Finally, Wealthspire Advisors LLC raised its stake in shares of Sirius XM by 3.8% during the 3rd quarter. Wealthspire Advisors LLC now owns 57,174 shares of the company’s stock valued at $326,000 after purchasing an additional 2,070 shares during the period. Institutional investors own 10.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SIRI shares. Citigroup decreased their price objective on Sirius XM from $4.50 to $3.60 and set a “sell” rating on the stock in a research note on Friday, March 31st. Credit Suisse Group lowered their price objective on Sirius XM from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 3rd. Wells Fargo & Company reduced their target price on Sirius XM from $7.00 to $5.50 and set an “equal weight” rating for the company in a research report on Friday, February 3rd. Morgan Stanley lowered their price target on Sirius XM from $5.40 to $4.40 and set an “underweight” rating on the stock in a report on Thursday, April 13th. Finally, Benchmark reissued a “buy” rating and set a $7.00 price objective on shares of Sirius XM in a report on Thursday, March 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.39.

Sirius XM Trading Up 1.1 %

Shares of NASDAQ:SIRI opened at $3.84 on Friday. The stock has a market capitalization of $14.94 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. Sirius XM Holdings Inc. has a 12-month low of $3.43 and a 12-month high of $6.85. The stock’s 50-day moving average price is $4.04 and its 200-day moving average price is $5.32.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.31 billion. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts predict that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Friday, May 5th will be paid a dividend of $0.0242 per share. This represents a $0.10 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, May 4th. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

About Sirius XM

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Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.