Lazard Asset Management LLC Cuts Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Lazard Asset Management LLC trimmed its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 84.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,471 shares of the company's stock after selling 35,263 shares during the quarter. Lazard Asset Management LLC's holdings in Sirius XM were worth $146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc boosted its holdings in Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after buying an additional 12,313,544 shares in the last quarter. LSV Asset Management purchased a new stake in Sirius XM during the fourth quarter worth about $51,535,000. Norges Bank purchased a new stake in Sirius XM during the fourth quarter worth about $28,269,000. Check Capital Management Inc. CA boosted its holdings in Sirius XM by 597.7% during the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock worth $26,123,000 after buying an additional 981,517 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in Sirius XM during the fourth quarter worth about $19,052,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Trading Down 0.2%

Shares of SIRI traded down $0.04 on Thursday, hitting $22.36. 518,778 shares of the stock traded hands, compared to its average volume of 4,863,438. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.55 billion, a P/E ratio of -3.49, a P/E/G ratio of 0.79 and a beta of 0.90. The stock's 50 day moving average is $21.47 and its two-hundred day moving average is $23.26. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.11). The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio is currently -16.56%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SIRI. Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a report on Friday, May 2nd. Guggenheim reduced their price target on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Rosenblatt Securities reduced their price target on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.65.

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.