Berkshire Hathaway Inc Acquires 869,800 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock

by · The Markets Daily

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

  • On Friday, October 11th, Berkshire Hathaway Inc purchased 1,259,259 shares of Sirius XM stock. The stock was acquired at an average price of $24.95 per share, for a total transaction of $31,418,512.05.

Sirius XM Trading Up 2.6 %

NASDAQ:SIRI opened at $24.93 on Friday. The stock has a market cap of $9.60 billion, a P/E ratio of 7.55, a PEG ratio of 0.73 and a beta of 1.07. The stock has a 50 day simple moving average of $27.66 and a 200 day simple moving average of $30.27. Sirius XM Holdings Inc. has a 1-year low of $22.18 and a 1-year high of $57.80.

Sirius XM (NASDAQ:SIRI – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. As a group, sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.25 EPS 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 issued a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.27%. Sirius XM’s payout ratio is currently 32.12%.

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. Barrington Research restated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a research note on Monday, July 15th. Rosenblatt Securities boosted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. StockNews.com assumed coverage on shares of Sirius XM in a research note on Saturday. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.25.

Read Our Latest Stock Analysis on Sirius XM

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trium Capital LLP acquired a new position in Sirius XM in the 3rd quarter valued at $50,000. V Square Quantitative Management LLC raised its holdings in Sirius XM by 66.6% in the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares in the last quarter. First PREMIER Bank acquired a new position in Sirius XM in the 1st quarter valued at $31,000. Keynote Financial Services LLC acquired a new position in Sirius XM in the 1st quarter valued at $39,000. Finally, Mather Group LLC. acquired a new position in Sirius XM in the 2nd quarter valued at $28,000. 10.69% of the stock is owned by institutional investors and hedge funds.

About Sirius XM

(Get Free Report)

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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