Cerity Partners LLC Buys 2,340 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cerity Partners LLC lifted its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 11.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,458 shares of the company’s stock after purchasing an additional 2,340 shares during the period. Cerity Partners LLC’s holdings in Sirius XM were worth $555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coston McIsaac & Partners raised its holdings in Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. TCTC Holdings LLC bought a new stake in shares of Sirius XM during the 3rd quarter valued at approximately $29,000. Bfsg LLC raised its holdings in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after buying an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC raised its position in shares of Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Sirius XM by 113.6% in the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after purchasing an additional 1,938 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 2,646,761 shares of company stock worth $65,952,329 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $28.74 on Tuesday. Sirius XM Holdings Inc. has a fifty-two week low of $22.18 and a fifty-two week 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 company has a 50 day moving average price of $26.20 and a 200 day moving average price of $28.64. The stock has a market capitalization of $9.75 billion, a P/E ratio of -4.53 and a beta of 1.03.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.27 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.76%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is currently -17.03%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SIRI shares. Bank of America reissued an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. 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. Guggenheim cut Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Pivotal Research cut their price objective 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. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a report on Monday, November 4th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.96.

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.