Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Buys $20,483,790.00 in Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, October 11th, Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock. The stock was purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05.

Sirius XM Stock Up 2.6 %

NASDAQ SIRI opened at $24.93 on Monday. Sirius XM Holdings Inc. has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The stock has a market cap of $95.90 billion, a price-to-earnings ratio of 75.55, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The business has a fifty day moving average of $27.66 and a 200-day moving average of $30.15.

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

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.27%. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s payout ratio is currently 321.21%.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. Trium Capital LLP purchased a new stake in Sirius XM during the third quarter valued at about $50,000. V Square Quantitative Management LLC grew its position in Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares during the period. First PREMIER Bank purchased a new stake in Sirius XM during the first quarter valued at about $31,000. Keynote Financial Services LLC purchased a new stake in Sirius XM during the first quarter valued at about $39,000. Finally, Mather Group LLC. purchased a new stake in Sirius XM during the second quarter valued at about $28,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SIRI shares. Citigroup upped their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. StockNews.com initiated coverage on Sirius XM in a research report on Saturday. They set a “hold” rating for the company. Rosenblatt Securities increased their price objective on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group cut their target price 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Sirius XM presently has an average rating of “Hold” and an average 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.