Sirius XM (NASDAQ:SIRI) Sees Unusually-High Trading Volume After Insider Buying Activity

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) saw strong trading volume on Monday after an insider bought additional shares in the company. 2,475,123 shares were traded during trading, a decline of 25% from the previous session’s volume of 3,300,432 shares.The stock last traded at $27.34 and had previously closed at $27.61.

Specifically, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the acquisition, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Berkshire Hathaway Inc purchased 342,133 shares of the stock in a transaction on Wednesday, October 16th. The stock was bought at an average price of $26.99 per share, for a total transaction of $9,234,169.67. Following the completion of the transaction, the insider now directly owns 109,061,221 shares of the company’s stock, valued at approximately $2,943,562,354.79. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SIRI shares. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, September 18th. 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. Citigroup raised their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. StockNews.com began coverage on Sirius XM in a report on Sunday. They issued a “hold” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.25.

Sirius XM Stock Up 0.1 %

The stock’s fifty day moving average price is $27.17 and its 200-day moving average price is $29.67. The company has a market capitalization of $104.67 billion, a price-to-earnings ratio of 82.45, a P/E/G ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Analysts anticipate that Sirius XM Holdings Inc. will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.97%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently added to or reduced their stakes in the business. Coston McIsaac & Partners grew its position in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Mather Group LLC. acquired a new stake in Sirius XM during the second quarter worth approximately $28,000. Walker Asset Management LLC bought a new position in Sirius XM during the 2nd quarter worth $33,000. Plato Investment Management Ltd acquired a new position in Sirius XM in the 2nd quarter valued at $35,000. Finally, Riverview Capital Advisers LLC bought a new stake in shares of Sirius XM during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company 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.