Insider Buying: Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Purchases 342,133 Shares of Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc purchased 342,133 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was purchased 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 in the company, valued at $2,943,562,354.79. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 18th, Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock. The shares were bought at an average price of $27.43 per share, for a total transaction of $4,815,857.67.
• On Friday, October 11th, Berkshire Hathaway Inc purchased 1,259,259 shares of Sirius XM stock. The shares were acquired at an average cost of $24.95 per share, with a total value of $31,418,512.05.
• On Wednesday, October 9th, Berkshire Hathaway Inc bought 869,800 shares of Sirius XM stock. The shares were purchased at an average cost of $23.55 per share, with a total value of $20,483,790.00.

Sirius XM Trading Up 1.9 %

NASDAQ SIRI traded up $0.51 during trading on Friday, hitting $27.61. 5,955,222 shares of the company’s stock were exchanged, compared to its average volume of 3,304,396. The company has a market cap of $106.21 billion, a PE ratio of 83.76, a P/E/G ratio of 0.73 and a beta of 1.07. Sirius XM Holdings Inc. has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The stock’s 50 day moving average price is $27.35 and its two-hundred day moving average price is $29.95.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm 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%. Analysts forecast that Sirius XM Holdings Inc. will post 3.25 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued 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 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s payout ratio is 321.21%.

Institutional Trading of Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bfsg LLC grew its holdings in shares of Sirius XM by 35.3% during the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Sirius XM by 113.6% during the third quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock worth $86,000 after purchasing an additional 1,938 shares during the last quarter. Trium Capital LLP bought a new stake in Sirius XM in the third quarter valued at approximately $50,000. Bard Financial Services Inc. boosted its holdings in Sirius XM by 41.3% in the second quarter. Bard Financial Services Inc. now owns 17,100 shares of the company’s stock valued at $48,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Pitcairn Co. boosted its holdings in Sirius XM by 33.7% in the first quarter. Pitcairn Co. now owns 19,994 shares of the company’s stock valued at $78,000 after acquiring an additional 5,043 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SIRI shares. Barrington Research reissued an “outperform” rating and set a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, September 18th. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price target for the company from $42.50 to $32.50 in a research note on Monday, June 24th. JPMorgan Chase & Co. initiated coverage on Sirius XM in a research note on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.25.

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.