HighTower Advisors LLC trimmed its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 82.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,816 shares of the company's stock after selling 197,792 shares during the period. HighTower Advisors LLC's holdings in Sirius XM were worth $957,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter valued at about $12,858,000. Sessa Capital IM L.P. acquired a new position in Sirius XM during the 3rd quarter valued at about $77,983,000. Thompson Siegel & Walmsley LLC bought a new stake in Sirius XM during the 3rd quarter worth approximately $67,598,000. Seizert Capital Partners LLC purchased a new stake in shares of Sirius XM in the third quarter worth approximately $46,173,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Sirius XM in the second quarter valued at approximately $5,192,000. 10.69% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Sirius XM
In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the purchase, the insider now owns 110,276,790 shares of the company's stock, valued at approximately $3,024,892,349.70. This represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 2,646,761 shares of company stock worth $65,952,329. Company insiders own 0.79% of the company's stock.
Sirius XM Stock Performance
NASDAQ:SIRI traded down $0.83 during trading hours on Wednesday, reaching $21.51. The stock had a trading volume of 8,390,583 shares, compared to its average volume of 3,730,533. The stock has a market cap of $7.30 billion, a P/E ratio of -3.39 and a beta of 1.03. The stock has a 50 day simple moving average of $26.27 and a 200 day simple moving average of $28.45. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Sirius XM Holdings Inc. has a 12-month low of $21.46 and a 12-month high of $56.80.
Sirius XM Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $0.27 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 5.02%. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's dividend payout ratio (DPR) is -17.03%.
Analysts Set New Price Targets
Several brokerages recently issued reports on SIRI. StockNews.com initiated coverage on Sirius XM in a report on Wednesday, November 13th. They set a "sell" rating for the company. Morgan Stanley reiterated an "underweight" rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Seaport Res Ptn lowered shares of Sirius XM from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. 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, Rosenblatt Securities lifted their target price on shares of Sirius XM from $28.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.27.
Read Our Latest Analysis on Sirius XM
Sirius XM Profile
(
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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