Wilmington Savings Fund Society FSB Invests $5.49 Million in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Wilmington Savings Fund Society FSB bought a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 232,086 shares of the company’s stock, valued at approximately $5,489,000. Wilmington Savings Fund Society FSB owned about 0.07% of Sirius XM at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Coston McIsaac & Partners increased its holdings in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new position in Sirius XM during the 3rd quarter valued at approximately $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Sirius XM during the second quarter worth $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in shares of Sirius XM during the second quarter valued at $35,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired 2,646,761 shares of company stock worth $65,952,329 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Rosenblatt Securities lifted their price target on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America reaffirmed an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a report on Thursday, October 24th. Pivotal Research cut their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Seaport Res Ptn cut shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, StockNews.com assumed coverage on shares of Sirius XM in a research note on Wednesday, November 13th. They issued a “sell” rating on the stock. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.04.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $24.81 on Friday. Sirius XM Holdings Inc. has a twelve month low of $22.18 and a twelve month high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The business has a 50-day moving average price of $26.32 and a 200 day moving average price of $28.58.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.35%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s dividend payout ratio is presently -17.03%.

Sirius XM Company 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.