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

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares saw strong trading volume on Monday after an insider bought additional shares in the company. 2,475,123 shares changed hands during 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 bought 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the transaction, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 342,133 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were acquired at an average cost of $26.99 per share, with a total value of $9,234,169.67. Following the completion of the purchase, the insider now owns 109,061,221 shares in the company, valued at approximately $2,943,562,354.79. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have commented on SIRI shares. Rosenblatt Securities increased their target price on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Barrington Research restated an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Citigroup increased their target price on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.25.

Sirius XM Stock Down 1.2 %

The business has a 50 day moving average price of $27.27 and a 200-day moving average price of $29.78. The firm has a market cap of $104.94 billion, a price-to-earnings ratio of 83.67, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Research 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 announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.266 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 9th. Sirius XM’s payout ratio is presently 321.21%.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently bought and sold shares of SIRI. Mather Group LLC. purchased a new position in shares of Sirius XM during the 2nd quarter valued at approximately $28,000. First PREMIER Bank acquired a new position in Sirius XM during the 1st quarter worth $31,000. Walker Asset Management LLC acquired a new position in Sirius XM during the 2nd quarter worth $33,000. Plato Investment Management Ltd bought a new stake in shares of Sirius XM in the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC acquired a new stake in shares of Sirius XM in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.