California Public Employees Retirement System Sells 42,853 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) (2024)

Posted by Defense World Staff on May 4th, 2024

California Public Employees Retirement System lowered its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,280,095 shares of the company’s stock after selling 42,853 shares during the quarter. California Public Employees Retirement System’s holdings in Sirius XM were worth $7,002,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SIRI. Truvestments Capital LLC bought a new stake in shares of Sirius XM during the third quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in Sirius XM in the 4th quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in Sirius XM during the 3rd quarter valued at $47,000. Garden State Investment Advisory Services LLC acquired a new position in Sirius XM during the third quarter worth $47,000. Finally, ORG Partners LLC bought a new position in shares of Sirius XM in the fourth quarter valued at $49,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Performance

SIRI opened at $3.12 on Friday. Sirius XM Holdings Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.95. The firm has a 50-day moving average of $3.72 and a 200 day moving average of $4.56. The firm has a market cap of $12.00 billion, a P/E ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI – Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. Equities research analysts predict that Sirius XM Holdings Inc. will post 0.3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.41%. Sirius XM’s payout ratio is presently 33.33%.

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Rosenblatt Securities lowered their price objective on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their target price on Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the company from $3.50 to $3.25 in a research report on Wednesday. Finally, Benchmark dropped their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.42.

Check Out Our Latest Stock Report on Sirius XM

About Sirius XM

(Free Report)

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.