Insider Buying: Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Acquires $31,418,512.05 in Stock

by · The Cerbat Gem

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

  • On Wednesday, October 9th, Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock. The shares were acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Trading Up 2.6 %

SIRI stock opened at $24.93 on Monday. The company has a market capitalization of $95.90 billion, a P/E ratio of 75.55, a PEG ratio of 0.73 and a beta of 1.07. Sirius XM Holdings Inc. has a twelve month low of $22.18 and a twelve month high of $57.80. The business has a 50 day simple moving average of $27.66 and a 200-day simple moving average of $30.15.

Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Research analysts predict that Sirius XM Holdings Inc. will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.266 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently modified their holdings of the stock. R.H. Dinel Investment Counsel Inc. acquired a new stake in shares of Sirius XM during the third quarter worth $1,545,000. Mendota Financial Group LLC acquired a new stake in shares of Sirius XM during the third quarter worth $754,000. Trium Capital LLP acquired a new stake in shares of Sirius XM during the third quarter worth $50,000. Handelsbanken Fonder AB lifted its holdings in shares of Sirius XM by 23.9% during the third quarter. Handelsbanken Fonder AB now owns 49,453 shares of the company’s stock worth $1,170,000 after purchasing an additional 9,542 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Sirius XM by 169.0% during the third quarter. SG Americas Securities LLC now owns 289,980 shares of the company’s stock worth $6,858,000 after purchasing an additional 182,197 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SIRI shares. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price target on the stock. Benchmark reduced their price target on shares of Sirius XM from $65.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com began coverage on shares of Sirius XM in a research note on Saturday. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.25.

View Our Latest Analysis on SIRI

About Sirius XM

(Get Free Report)

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.

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