Alliancebernstein L.P. Has $2.38 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Alliancebernstein L.P. cut its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 88.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,149 shares of the company’s stock after selling 762,067 shares during the quarter. Alliancebernstein L.P.’s holdings in Sirius XM were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brandywine Global Investment Management LLC raised its position in Sirius XM by 7.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,218,017 shares of the company’s stock worth $50,571,000 after purchasing an additional 150,744 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Sirius XM by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,035 shares of the company’s stock valued at $776,000 after acquiring an additional 4,225 shares during the period. Norges Bank acquired a new stake in shares of Sirius XM in the 4th quarter valued at about $28,269,000. Caisse Des Depots ET Consignations acquired a new position in shares of Sirius XM during the fourth quarter worth approximately $741,000. Finally, Weaver C. Barksdale & Associates Inc. acquired a new position in shares of Sirius XM during the fourth quarter valued at about $1,148,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Stock Down 1.7 %

NASDAQ:SIRI opened at $20.08 on Thursday. The company has a market capitalization of $6.80 billion, a PE ratio of -3.13, a P/E/G ratio of 0.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. Sirius XM Holdings Inc. has a 1-year low of $18.69 and a 1-year high of $41.60. The firm’s 50-day moving average price is $23.19 and its 200-day moving average price is $24.14.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, January 30th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. On average, equities analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.38%. Sirius XM’s payout ratio is presently -16.85%.

Analysts Set New Price Targets

SIRI has been the subject of several recent analyst reports. Guggenheim reduced their target price on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. 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 report on Monday, February 3rd. Morgan Stanley decreased their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Barrington Research set a $28.00 target price on shares of Sirius XM in a research report on Friday, January 31st. Finally, Seaport Res Ptn raised Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and an average 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.