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

M&T Bank Corp reduced its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 78.7% in the third quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

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

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

SIRI has been the subject of several recent analyst reports. 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. Rosenblatt Securities boosted their price target on shares of Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. StockNews.com assumed coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating on the stock. The Goldman Sachs Group cut their target price 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. Finally, Citigroup raised their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.27.

Sirius XM Trading Down 3.7 %

Shares of SIRI stock opened at $21.51 on Thursday. The business has a 50-day moving average of $26.27 and a 200 day 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. The stock has a market capitalization of $7.30 billion, a PE ratio of -3.39 and a beta of 1.03.

Sirius XM Increases Dividend

The business also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio 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.