HighTower Advisors LLC Sells 197,792 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

HighTower Advisors LLC decreased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 82.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,816 shares of the company’s stock after selling 197,792 shares during the quarter. HighTower Advisors LLC’s holdings in Sirius XM were worth $957,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $12,858,000. Sessa Capital IM L.P. acquired a new position in shares of Sirius XM in the 3rd quarter valued at approximately $77,983,000. Thompson Siegel & Walmsley LLC bought a new stake in Sirius XM during the 3rd quarter worth approximately $67,598,000. Seizert Capital Partners LLC acquired a new stake in Sirius XM during the 3rd quarter worth approximately $46,173,000. Finally, Cubist Systematic Strategies LLC bought a new position in Sirius XM in the second quarter valued at approximately $5,192,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SIRI shares. Barrington Research dropped their price objective on shares of Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Rosenblatt Securities increased 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 downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, Benchmark reissued a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.27.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 2,646,761 shares of company stock valued at $65,952,329. Insiders own 0.79% of the company’s stock.

Sirius XM Stock Performance

NASDAQ SIRI opened at $22.34 on Wednesday. Sirius XM Holdings Inc. has a 52-week low of $21.79 and a 52-week high of $56.80. The stock has a market cap of $7.58 billion, a PE ratio of -3.52 and a beta of 1.03. The firm has a 50-day moving average of $26.32 and a 200-day moving average of $28.49. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is -17.03%.

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.