Weitz Investment Management Inc. Increases Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Weitz Investment Management Inc. lifted its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,465,500 shares of the company’s stock after acquiring an additional 203,501 shares during the quarter. Sirius XM makes up approximately 1.7% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Weitz Investment Management Inc.’s holdings in Sirius XM were worth $33,413,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SIRI. Norges Bank bought a new position in Sirius XM during the 4th quarter valued at approximately $28,269,000. Check Capital Management Inc. CA grew its stake in shares of Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after acquiring an additional 981,517 shares during the last quarter. Whitebox Advisors LLC increased its holdings in shares of Sirius XM by 310.5% during the third quarter. Whitebox Advisors LLC now owns 1,176,722 shares of the company’s stock valued at $27,829,000 after acquiring an additional 890,048 shares in the last quarter. Capital Management Corp VA purchased a new position in shares of Sirius XM in the 4th quarter worth about $11,339,000. Finally, FMR LLC boosted its stake in 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 purchasing an additional 410,621 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Performance

SIRI opened at $21.96 on Wednesday. The company’s 50 day moving average is $23.98 and its 200 day moving average is $24.48. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -3.43, a PEG ratio of 0.79 and a beta of 1.06. Sirius XM Holdings Inc. has a 12-month low of $20.47 and a 12-month high of $41.60.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping 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 predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given 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 -16.85%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Seaport Res Ptn downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Guggenheim lowered their price objective on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Rosenblatt Securities reduced their target price on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Barrington Research set a $28.00 price target on Sirius XM in a research note on Friday, January 31st. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.81.

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.