JPMorgan Chase & Co. Purchases 117,250 Shares of Sirius XM Holdings Inc. $SIRI

Key Points

• JPMorgan Chase boosted its stake in Sirius XM by 52.8% in Q3, buying an additional 117,250 shares to hold 339,511 shares valued at about $7.9 million (0.10% of the company).
• Other institutions were active as well, notably Berkshire Hathaway which added 5,030,425 shares to hold 124,807,117 shares worth roughly $2.9 billion, reflecting broad institutional buying interest.
• Analyst views are mixed but cautious: JPMorgan upgraded SIRI to neutral and raised its price target to $24, and the consensus is a "Hold" with an average price target of about $24.44.

JPMorgan Chase & Co. raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 52.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,511 shares of the company's stock after purchasing an additional 117,250 shares during the period. JPMorgan Chase & Co. owned 0.10% of Sirius XM worth $7,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SIRI. Berkshire Hathaway Inc boosted its stake in Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company's stock valued at $2,904,886,000 after buying an additional 5,030,425 shares during the period. Quantbot Technologies LP increased its stake in Sirius XM by 66.3% in the 3rd quarter. Quantbot Technologies LP now owns 133,014 shares of the company's stock worth $3,096,000 after acquiring an additional 53,019 shares during the last quarter. Brighton Jones LLC bought a new position in Sirius XM in the 4th quarter worth about $622,000. Hsbc Holdings PLC raised its holdings in shares of Sirius XM by 779.4% in the 2nd quarter. Hsbc Holdings PLC now owns 115,237 shares of the company's stock valued at $2,639,000 after acquiring an additional 102,133 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Sirius XM by 292.5% during the 3rd quarter. SG Americas Securities LLC now owns 113,728 shares of the company's stock valued at $2,647,000 after acquiring an additional 84,751 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SIRI has been the subject of several recent analyst reports. UBS Group set a $24.00 price objective on Sirius XM in a report on Tuesday, February 10th. Weiss Ratings lowered shares of Sirius XM from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, February 6th. Moffett Nathanson started coverage on shares of Sirius XM in a research note on Tuesday, January 27th. They issued a "neutral" rating and a $21.00 price target for the company. JPMorgan Chase & Co. raised shares of Sirius XM from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $20.00 to $24.00 in a report on Tuesday, February 10th. Finally, Barrington Research restated an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Sirius XM presently has an average rating of "Hold" and an average price target of $24.44.

Sirius XM Price Performance

SIRI stock opened at $22.76 on Tuesday. The firm has a market cap of $7.62 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.39 and a beta of 0.92. The firm's fifty day moving average is $21.55 and its 200 day moving average is $21.59. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $24.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.30 and a current ratio of 0.30.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were issued a $0.27 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. Sirius XM's payout ratio is currently 48.21%.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM's offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.

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