SSgA Funds Management, Inc. recently announced the acquisition of new stake in Sirius XM Holdings Inc (NASDAQ:SIRI). The institutional investor has increased its shareholding in the Communication Services company by 0.16% to 28.81 million shares with purchase of 46812.0 shares. This fresh investment now brings its stake to 0.75% valued currently at $134.83 million. In addition, AQR Capital Management LLC raised its holdings by 12.13 million to 14.64 million shares. And Citigroup Global Markets, Inc. has lifted its position by 1,870.97% or 12.78 million shares – to 13.47 million shares.
With over 8.42 million Sirius XM Holdings Inc (SIRI) shares trading Friday and a closing price of $5.47 on the day, the dollar volume was approximately $46.05 million. The shares have shown a positive half year performance of 20.75% and its price on 12/29/23 lost nearly -1.08%. Currently, there are 3.89B common shares owned by the public and among those 620.84M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for SIRI have a consensus price objective of $4.99. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $3.50. The average price target is -9.62% below its recent price level and a downside to the estimated low will see the stock lose -56.29% over that period. But an upside of 21.86% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 79 of these insider trades were purchases, accounting for 3,066,802 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 747,863 shares.
The top 3 mutual fund holders in Sirius XM Holdings Inc are Invesco QQQ Trust, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. Invesco QQQ Trust owns 66.84 million shares of the company’s stock, all valued at over $312.83 million. The company sold -0.23 million shares recently to bring their total holdings to about 1.74% of the shares outstanding. Vanguard Total Stock Market ETF bought 26291.0 shares to see its total holdings expand to 18.48 million shares valued at over $86.49 million and representing 0.48% of the shares outstanding. Vanguard Mid Cap Index Fund bought 44099.0 shares to bring its total holdings to over 10.64 million shares at a value of $49.81 million. Vanguard Mid Cap Index Fund now owns shares totaling to 0.28% of the shares outstanding.
Shares of Sirius XM Holdings Inc (NASDAQ: SIRI) opened at $5.52, down -$0.01 from a prior closing price of $5.53. However, the script later moved the day high at 5.50, down -1.08%. The company’s stock has a 5-day price change of -0.18% and 21.02% over the past three months. SIRI shares are trading -6.34% year to date (YTD), with the 12-month market performance down to -4.54% lower. It has a 12-month low price of $3.32 and touched a high of $7.95 over the same period. SIRI has an average intraday trading volume of 12.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.54%, 12.56%, and 25.30% respectively.
Institutional ownership of Sirius XM Holdings Inc (NASDAQ: SIRI) shares accounts for 10.77% of the company’s 3.89B shares outstanding. Mutual fund holders own 6.71%, while other institutional holders and individual stakeholders account for 84.00% and 4.16% respectively.
It has a market capitalization of $21.00B and a beta (3y monthly) value of 1.08. The stock’s trailing 12-month PE ratio is 16.78, while the earnings-per-share (ttm) stands at $0.33. The company has a PEG of 2.03 and a Quick Ratio of 0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 5.09% over the month.
Analysts forecast that Sirius XM Holdings Inc (SIRI) will achieve an EPS of $0.08 for the current quarter, $0.06 for the next quarter and $0.31 for 2024. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.22%, and 2.21% over the next financial year. EPS should shrink at an annualized rate of 8.27% over the next five years, compared to 16.85% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Sirius XM Holdings Inc (SIRI) as a “Hold” at a consensus score of 3.31. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 13 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the SIRI, a number of firms have released research notes about the stock. Pivotal Research Group stated their Hold rating for the stock in a research note on August 02, 2023, with the firm’s price target at $4.50-$5.
