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

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) 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.

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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.

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Sirius XM (NASDAQ:SIRI - Get Free Report) 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

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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.

Get Our Latest Report on SIRI

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.

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