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

Lazard Asset Management LLC reduced its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 75.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,204 shares of the company’s stock after selling 30,803 shares during the period. Lazard Asset Management LLC’s holdings in Sirius XM were worth $236,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Root Financial Partners LLC grew its position in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after acquiring an additional 1,195 shares during the last quarter. Rossby Financial LCC lifted its holdings in shares of Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Sirius XM in the fourth quarter worth about $40,000. Jessup Wealth Management Inc acquired a new stake in shares of Sirius XM in the 4th quarter valued at approximately $40,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup reiterated a “sell” rating and set a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 target price on shares of Sirius XM in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price target on shares of Sirius XM in a report on Tuesday, July 28th. Finally, Morgan Stanley increased their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.92.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $29.91 on Friday. The stock’s 50-day moving average is $29.44 and its 200-day moving average is $25.66. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market cap of $10.08 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business earned $0.57 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid 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 dividend yield of 3.6%. Sirius XM’s dividend payout ratio (DPR) is presently 43.20%.

Insider Buying and Selling at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares in the company, valued at $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.27% of the stock is currently owned by company insiders.

Sirius XM Company Profile

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.