Lazard Asset Management LLC Has $236,000 Holdings in Sirius XM Holdings Inc. $SIRI

Lazard Asset Management LLC cut its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 75.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,204 shares of the company’s stock after selling 30,803 shares during the quarter. Lazard Asset Management LLC’s holdings in Sirius XM were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 262.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after acquiring an additional 4,560,821 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after purchasing an additional 3,233,922 shares during the period. Norges Bank bought a new stake in shares of Sirius XM in the 4th quarter valued at about $57,124,000. Hsbc Holdings PLC grew its holdings in Sirius XM by 858.4% during the fourth quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock worth $41,726,000 after purchasing an additional 1,859,872 shares during the period. Finally, Pacer Advisors Inc. bought a new position in Sirius XM during the fourth quarter worth about $34,548,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $29.91 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $32.66. The company has a 50-day simple moving average of $29.44 and a two-hundred day simple moving average of $25.66.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.6%. Sirius XM’s dividend payout ratio is currently 43.20%.

Insider Transactions at Sirius XM

In other news, Director Jonelle Procope sold 16,672 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America reissued an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. UBS Group set a $30.00 price objective on shares of Sirius XM in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $30.92.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.