Cresset Asset Management LLC Cuts Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cresset Asset Management LLC lowered its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 38.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,519 shares of the company’s stock after selling 6,535 shares during the period. Cresset Asset Management LLC’s holdings in Sirius XM were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of Sirius XM by 209.1% in the 3rd quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock worth $2,062,000 after acquiring an additional 58,993 shares during the period. Merit Financial Group LLC purchased a new stake in Sirius XM during the fourth quarter worth $229,000. Integrated Investment Consultants LLC grew its holdings in Sirius XM by 10.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 15,007 shares of the company’s stock valued at $342,000 after purchasing an additional 1,469 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of Sirius XM in the fourth quarter valued at $557,000. Finally, Polianta Ltd purchased a new position in shares of Sirius XM in the fourth quarter valued at $1,085,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on SIRI. Morgan Stanley lowered their price objective on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim lowered their price target on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barrington Research restated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Seaport Res Ptn raised Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Rosenblatt Securities dropped their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sirius XM presently has an average rating of “Hold” and an average target price of $26.65.

Sirius XM Stock Up 1.7%

Shares of SIRI opened at $22.73 on Friday. Sirius XM Holdings Inc. has a fifty-two week low of $18.69 and a fifty-two week high of $41.60. The company’s fifty day moving average is $21.57 and its two-hundred day moving average is $23.47. The firm has a market cap of $7.68 billion, a PE ratio of -3.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.90. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. Sirius XM’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. Analysts forecast that Sirius XM Holdings Inc. will post 3.2 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, May 28th. Investors of record on Friday, May 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 4.75%. Sirius XM’s payout ratio is -16.56%.

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.