Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Purchases $4,815,857.67 in Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the acquisition, the insider now directly owns 110,276,790 shares of the company’s stock, valued at approximately $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 16th, Berkshire Hathaway Inc acquired 342,133 shares of Sirius XM stock. The shares were bought at an average price of $26.99 per share, for a total transaction of $9,234,169.67.
• On Friday, October 11th, Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock. The shares were bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05.
• On Wednesday, October 9th, Berkshire Hathaway Inc bought 869,800 shares of Sirius XM stock. The shares were acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00.

Sirius XM Stock Up 1.9 %

Sirius XM stock opened at $27.61 on Monday. Sirius XM Holdings Inc. has a twelve month low of $22.18 and a twelve month high of $57.80. The firm has a 50 day moving average price of $27.27 and a 200-day moving average price of $29.78. The company has a market capitalization of $106.21 billion, a P/E ratio of 83.67, a P/E/G ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Equities analysts expect that Sirius XM Holdings Inc. will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.266 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Mather Group LLC. purchased a new stake in Sirius XM in the 2nd quarter worth approximately $28,000. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter worth approximately $31,000. Walker Asset Management LLC purchased a new stake in Sirius XM in the 2nd quarter worth approximately $33,000. Plato Investment Management Ltd purchased a new stake in Sirius XM in the 2nd quarter worth approximately $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in Sirius XM in the 2nd quarter worth approximately $35,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SIRI. Benchmark reissued a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. The Goldman Sachs Group reduced their price objective on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Citigroup upped their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.25.

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.