M&T Bank Corp Sells 52,138 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

M&T Bank Corp decreased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 78.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,102 shares of the company’s stock after selling 52,138 shares during the quarter. M&T Bank Corp’s holdings in Sirius XM were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Coston McIsaac & Partners raised its stake in 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 buying an additional 624 shares during the period. TCTC Holdings LLC acquired a new position in shares of Sirius XM during the third quarter worth approximately $29,000. Princeton Global Asset Management LLC lifted its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Sirius XM in the 2nd quarter valued at $35,000. Finally, Riverview Capital Advisers LLC bought a new stake in Sirius XM during the 2nd quarter valued at $35,000. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. This represents a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 2,646,761 shares of company stock valued at $65,952,329 over the last three months. 0.79% of the stock is currently owned by insiders.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $21.51 on Thursday. The company has a market capitalization of $7.30 billion, a P/E ratio of -3.39 and a beta of 1.03. The business has a fifty day simple moving average of $26.27 and a two-hundred day simple moving average of $28.45. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Sirius XM Holdings Inc. has a 1 year low of $21.46 and a 1 year high of $56.80.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.27 dividend. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Tuesday, November 5th. Sirius XM’s payout ratio is currently -17.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIRI. Bank of America reiterated an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Pivotal Research decreased their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Barrington Research dropped their price objective on Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.27.

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.