Zurcher Kantonalbank Zurich Cantonalbank Acquires New Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,958 shares of the company’s stock, valued at approximately $921,000.

A number of other institutional investors have also modified their holdings of SIRI. Point72 Asset Management L.P. purchased a new position in Sirius XM during the second quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP raised its position in shares of Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares during the last quarter. Sessa Capital IM L.P. bought a new stake in Sirius XM during the third quarter valued at about $77,983,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in Sirius XM in the third quarter valued at about $67,598,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SIRI shares. Citigroup raised their target price on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Rosenblatt Securities restated a “neutral” rating and set a $28.00 target price on shares of Sirius XM in a research note on Monday, November 4th. The Goldman Sachs Group decreased their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Bank of America restated an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.96.

Sirius XM Price Performance

NASDAQ:SIRI opened at $28.31 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 52 week low of $22.18 and a 52 week high of $57.80. The stock’s 50-day moving average price is $26.10 and its 200-day moving average price is $28.63. The stock has a market capitalization of $9.60 billion, a PE ratio of -4.47 and a beta of 1.03.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.81%. The ex-dividend date was Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently -17.03%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc purchased 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 cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 2,646,761 shares of company stock worth $65,952,329. Company insiders own 0.79% of the company’s stock.

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.