M&T Bank Corp Lowers Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

M&T Bank Corp decreased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 78.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,102 shares of the company's stock after selling 52,138 shares during the quarter. M&T Bank Corp's holdings in Sirius XM were worth $333,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. purchased a new position in shares of Sirius XM during the 3rd quarter valued at about $686,000. Northeast Financial Consultants Inc purchased a new position in shares of Sirius XM during the 3rd quarter valued at approximately $358,000. XTX Topco Ltd purchased a new stake in Sirius XM during the third quarter worth $1,234,000. Zacks Investment Management acquired a new stake in Sirius XM during the third quarter valued at $3,048,000. Finally, Whitebox Advisors LLC increased its holdings in Sirius XM by 310.5% in the third quarter. Whitebox Advisors LLC now owns 1,176,722 shares of the company's stock valued at $27,829,000 after buying an additional 890,048 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Price Performance

SIRI traded down $0.93 on Thursday, reaching $20.58. 10,821,047 shares of the company's stock were exchanged, compared to its average volume of 3,759,537. The stock has a market cap of $6.98 billion, a PE ratio of -3.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. Sirius XM Holdings Inc. has a twelve month low of $20.47 and a twelve month high of $56.80. The stock's fifty day moving average price is $26.27 and its 200-day moving average price is $28.45.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.25%. Sirius XM's dividend payout ratio is -17.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barrington Research dropped their target price on Sirius XM from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, December 13th. Citigroup raised their price objective on Sirius XM from $2.80 to $21.00 and gave the company a "sell" rating in a report on Thursday, September 26th. Bank of America reaffirmed an "underperform" rating and set a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. Finally, Seaport Res Ptn cut shares of Sirius XM from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Sirius XM has an average rating of "Hold" and an average target price of $27.58.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the acquisition, the insider now owns 108,719,088 shares of the company's stock, valued at $2,712,541,245.60. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have purchased 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Sirius XM Profile

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.