Central Pacific Bank Trust Division Invests $104,000 in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Central Pacific Bank Trust Division bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,579 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds have also bought and sold shares of the stock. Coston McIsaac & Partners raised 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 valued at $27,000 after buying an additional 624 shares in the last quarter. TCTC Holdings LLC bought a new position in Sirius XM in the third quarter valued at $29,000. Princeton Global Asset Management LLC lifted its stake in Sirius XM by 2,683.7% during the third 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 during the last quarter. Riverview Capital Advisers LLC bought a new position in shares of Sirius XM during the 2nd quarter valued at about $35,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Sirius XM during the 2nd quarter valued at about $35,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $22.36 on Friday. The business has a fifty day simple moving average of $25.36 and a two-hundred day simple moving average of $28.16. The firm has a market capitalization of $7.58 billion, a P/E ratio of -3.53 and a beta of 1.03. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 12 month low of $20.47 and a 12 month high of $55.50.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 4.83%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently -17.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SIRI shares. Bank of America restated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. The Goldman Sachs Group cut their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Rosenblatt Securities lifted their price objective on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Seaport Res Ptn cut Sirius XM from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Citigroup lifted their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.58.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the company’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the acquisition, the insider now owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. The trade was a 0.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is currently owned by company insiders.

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.