Fintel reports that on July 31, 2023, Seaport Global upgraded their outlook for Sirius XM Holdings (NASDAQ:SIRI) from Sell to Neutral.

Analyst Price Forecast Suggests 11.33% Downside

As of July 6, 2023, the average one-year price target for Sirius XM Holdings is 4.53. The forecasts range from a low of 3.28 to a high of $6.56. The average price target represents a decrease of 11.33% from its latest reported closing price of 5.11.

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The projected annual revenue for Sirius XM Holdings is 9,486MM, an increase of 5.86%. The projected annual non-GAAP EPS is 0.34.

What is the Fund Sentiment?

There are 1016 funds or institutions reporting positions in Sirius XM Holdings. This is a decrease of 24 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to SIRI is 0.07%, a decrease of 54.68%. Total shares owned by institutions increased in the last three months by 6.74% to 467,179K shares. The put/call ratio of SIRI is 1.07, indicating a bearish outlook.

What are Other Shareholders Doing?

Invesco Qqq Trust, Series 1 holds 51,154K shares representing 1.32% ownership of the company. In it’s prior filing, the firm reported owning 51,887K shares, representing a decrease of 1.43%. The firm decreased its portfolio allocation in SIRI by 43.47% over the last quarter.

Pacer Advisors holds 24,337K shares representing 0.63% ownership of the company. In it’s prior filing, the firm reported owning 221K shares, representing an increase of 99.09%. The firm increased its portfolio allocation in SIRI by 11,764.42% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,151K shares representing 0.47% ownership of the company. In it’s prior filing, the firm reported owning 17,696K shares, representing an increase of 2.51%. The firm decreased its portfolio allocation in SIRI by 35.61% over the last quarter.

Geode Capital Management holds 12,814K shares representing 0.33% ownership of the company. In it’s prior filing, the firm reported owning 15,808K shares, representing a decrease of 23.36%. The firm decreased its portfolio allocation in SIRI by 49.04% over the last quarter.

Zimmer Partners holds 12,390K shares representing 0.32% ownership of the company. In it’s prior filing, the firm reported owning 3,135K shares, representing an increase of 74.70%. The firm increased its portfolio allocation in SIRI by 163.87% over the last quarter.

Sirius XM Holdings Background Information
(This description is provided by the company.)

Sirius XM Holdings Inc. is the leading audio entertainment company in North America, and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM and Pandora’s properties reach more than 150 million listeners, the largest addressable audience in the U.S., across all categories of digital audio – music, sports, talk, and podcasts. SiriusXM’s acquisitions of Stitcher and Simplecast, alongside industry-leading ad tech company AdsWizz, make it a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers.

This article originally appeared on Fintel

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