Northeast Financial Consultants Inc Makes New $358,000 Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Northeast Financial Consultants Inc purchased a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,150 shares of the company’s stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Coston McIsaac & Partners lifted its holdings in shares of Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $28,000. TCTC Holdings LLC purchased a new position in shares of Sirius XM during the 3rd quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its stake in shares of Sirius XM by 2,683.7% during the 3rd 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 in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIRI. Pivotal Research cut their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. StockNews.com began coverage on Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating for the company. Guggenheim downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Citigroup increased their target price on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Finally, Bank of America restated an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus target price of $28.96.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $28.74 on Tuesday. The business’s fifty day moving average price is $26.20 and its two-hundred day moving average price is $28.64. The stock has a market cap of $9.75 billion, a PE ratio of -4.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Sirius XM Holdings Inc. has a one year low of $22.18 and a one year high of $57.80.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is -17.03%.

Insider Buying and Selling at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In 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 insiders.

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.