Insider Buying: Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Buys 869,800 Shares of Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares 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 shares were bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05.

Sirius XM Stock Performance

Shares of SIRI stock traded up $0.63 on Friday, hitting $24.93. The stock had a trading volume of 5,400,373 shares, compared to its average volume of 3,137,988. Sirius XM Holdings Inc. has a 52-week low of $22.18 and a 52-week high of $57.80. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 0.73 and a beta of 1.07. The stock’s 50 day moving average is $27.78 and its 200-day moving average is $30.37.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Equities analysts expect that Sirius XM Holdings Inc. will post 3.25 earnings per share for the current year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.266 per share. This represents a $1.06 dividend on an annualized basis and a yield of 4.27%. 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. Sirius XM’s dividend payout ratio is 32.12%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in shares of Sirius XM in the 2nd quarter worth about $28,000. First PREMIER Bank bought a new position in shares of Sirius XM in the 1st quarter worth about $31,000. Walker Asset Management LLC bought a new position in shares of Sirius XM in the 2nd quarter worth about $33,000. Plato Investment Management Ltd bought a new position in shares of Sirius XM in the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC bought a new position in shares of Sirius XM in the 2nd quarter worth about $35,000. 10.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SIRI shares. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price objective for the stock from $42.50 to $32.50 in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities upped their price target on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Benchmark dropped their price target on shares of Sirius XM from $65.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Barrington Research reissued an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Four research analysts have rated the stock with a sell rating, five have given 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 a consensus target price of $31.25.

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.