Sirius XM Holdings Inc. (NASDAQ:SIRI) Position Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 59.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,598 shares of the company’s stock after selling 146,017 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Sirius XM were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Northeast Financial Consultants Inc acquired a new stake in Sirius XM during the third quarter valued at $358,000. XTX Topco Ltd acquired a new stake in shares of Sirius XM during the 3rd quarter valued at about $1,234,000. Zacks Investment Management bought a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $3,048,000. 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 worth $27,829,000 after buying an additional 890,048 shares during the last quarter. Finally, Wallace Capital Management Inc. bought a new position in Sirius XM during the third quarter valued at approximately $1,657,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the transaction, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Sirius XM Trading Down 1.3 %

Shares of Sirius XM stock opened at $22.34 on Wednesday. The company has a market cap of $7.58 billion, a price-to-earnings ratio of -3.52 and a beta of 1.03. Sirius XM Holdings Inc. has a 1 year low of $21.79 and a 1 year high of $56.80. The company’s fifty day simple moving average is $26.32 and its 200-day simple moving average is $28.49. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This is a boost 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 4.83%. Sirius XM’s payout ratio is currently -17.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SIRI. Pivotal Research dropped their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Guggenheim reissued a “buy” rating and set a $30.00 target price on shares of Sirius XM in a research report on Wednesday, December 11th. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Barrington Research lowered their price objective on Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Finally, Bank of America reaffirmed an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.27.

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.