Mid American Wealth Advisory Group Inc. Buys Shares of 2,073 Sirius XM Holdings Inc. $SIRI

Mid American Wealth Advisory Group Inc. purchased a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, Holdings Channel reports. The firm purchased 2,073 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds also recently made changes to their positions in the business. IFP Advisors Inc increased its position in Sirius XM by 15.6% in the 1st quarter. IFP Advisors Inc now owns 17,133 shares of the company’s stock valued at $386,000 after acquiring an additional 2,307 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Sirius XM by 29.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 47,214 shares of the company’s stock valued at $1,064,000 after purchasing an additional 10,876 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Sirius XM by 9.0% in the first quarter. Cresset Asset Management LLC now owns 11,463 shares of the company’s stock worth $258,000 after purchasing an additional 944 shares during the period. Ninety One UK Ltd grew its position in Sirius XM by 8.3% in the 1st quarter. Ninety One UK Ltd now owns 191,829 shares of the company’s stock valued at $4,325,000 after buying an additional 14,718 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in Sirius XM during the 4th quarter valued at about $622,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Up 1.2%

Shares of Sirius XM stock opened at $21.64 on Tuesday. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $29.18. The firm has a market capitalization of $7.29 billion, a PE ratio of -3.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.93. 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 stock’s fifty day moving average is $22.86 and its 200-day moving average is $22.32.

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). The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Sirius XM has set its FY 2025 guidance at EPS. Equities analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. Sirius XM’s payout ratio is currently -16.00%.

Wall Street Analysts Forecast Growth

SIRI has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $29.00 price target on shares of Sirius XM in a research note on Thursday, June 26th. Morgan Stanley upped their target price on Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 16th. Barrington Research reiterated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a research report on Friday, August 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Sirius XM in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company decreased their target price on Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average price target of $24.89.

About Sirius XM

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.