Sirius XM (NASDAQ:SIRI) Sees Large Volume Increase on Insider Buying Activity

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) saw strong trading volume on Monday following insider buying activity. 2,475,123 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 3,300,432 shares.The stock last traded at $27.34 and had previously closed at $27.61.

Specifically, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 342,133 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was acquired at an average cost of $26.99 per share, for a total transaction of $9,234,169.67. Following the acquisition, the insider now directly owns 109,061,221 shares of the company’s stock, valued at $2,943,562,354.79. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

SIRI has been the topic of several recent research reports. Citigroup raised 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 set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. StockNews.com started coverage on shares of Sirius XM in a research note on Sunday. They issued a “hold” rating on the stock. Finally, Barrington Research reaffirmed an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a research note on Monday, July 15th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.25.

Sirius XM Stock Down 1.2 %

The business’s 50 day simple moving average is $27.27 and its 200 day simple moving average is $29.78. The company has a market capitalization of $104.94 billion, a PE ratio of 83.67, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The firm 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 an increase from Sirius XM’s previous quarterly dividend of $0.03. 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 3.90%. Sirius XM’s payout ratio is currently 321.21%.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently bought and sold shares of SIRI. Trium Capital LLP purchased a new stake in shares of Sirius XM in the third quarter worth approximately $50,000. Blue Trust Inc. grew its holdings in shares of Sirius XM by 113.6% during the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after acquiring an additional 1,938 shares in the last quarter. Bfsg LLC increased its stake in shares of Sirius XM by 35.3% in the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Sirius XM by 388.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,912 shares of the company’s stock worth $116,000 after acquiring an additional 3,906 shares in the last quarter. Finally, First PREMIER Bank purchased a new position in Sirius XM in the first quarter valued at about $31,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.