Weitz Investment Management Inc. Acquires 203,501 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Weitz Investment Management Inc. boosted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,465,500 shares of the company’s stock after acquiring an additional 203,501 shares during the quarter. Sirius XM accounts for about 1.7% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 22nd largest position. Weitz Investment Management Inc. owned 0.43% of Sirius XM worth $33,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC raised its stake in Sirius XM by 11.1% in the third quarter. Cerity Partners LLC now owns 23,458 shares of the company’s stock valued at $555,000 after purchasing an additional 2,340 shares in the last quarter. FMR LLC increased its holdings in shares of Sirius XM by 472.6% in the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock worth $11,766,000 after buying an additional 410,621 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Sirius XM during the 3rd quarter valued at $921,000. Captrust Financial Advisors lifted its holdings in shares of Sirius XM by 19.0% during the 3rd quarter. Captrust Financial Advisors now owns 87,834 shares of the company’s stock worth $2,077,000 after acquiring an additional 14,036 shares during the last quarter. Finally, Atom Investors LP bought a new stake in shares of Sirius XM during the 3rd quarter worth $369,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of SIRI stock opened at $21.96 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $7.44 billion, a P/E ratio of -3.43, a P/E/G ratio of 0.79 and a beta of 1.06. The business’s 50 day moving average price is $23.98 and its 200-day moving average price is $24.48. Sirius XM Holdings Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $41.60.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. On average, equities research analysts anticipate 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 Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Friday, February 7th. Sirius XM’s payout ratio is currently -16.85%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SIRI. Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley decreased their price objective on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Guggenheim cut their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barrington Research set a $28.00 price target on shares of Sirius XM in a research note on Friday, January 31st. Finally, Rosenblatt Securities cut their price objective on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.81.

Sirius XM Profile

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.