RBC, Barclays Weigh In on Sirius 185 comments
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Now that there has been a ton of news on Sirius XM Radio (SIRI), the analysts are once again getting to the business of issuing reports on the company. The infusion from Liberty (LINTA) has not only given Sirius XM new life, but investors as well. After months of doom and gloom, there is actually news that can deliver a positive outcome.
RBC analyst David Bank sees the $530 million investment from Liberty Media as a positive that helps SIRI avoid bankruptcy by addressing 2009 debt refinancing obligations. However, Bank considers the deal extremely dilutive to existing shareholders via preferred convertible shares to be issued to Liberty (for free). Bank estimates that the share count will come in at 6.2 billion. The firm maintains a sector perform rating, and still has not established a price target.
Vijay Jayant of Barclays issued a report focusing on Liberty, but for obvious reasons included a section on Sirius XM Radio. Jayant believes that the Liberty Capital (LCAPA) loans to Sirius XM give LCAPA upside optionality and downside protection. He notes that the 15% terms of the deal are attractive for Liberty as they carry a senior capital structure position. In the analyst's opinion, Liberty’s investment is more for a financial investment, and will not involve Liberty becoming closely involved in the day-to-day operation of SIRI, nor does it plan to attempt a DTV/Sirius operational or financial combination.
As the Liberty news sinks in, and the street awaits the Q4 report, the equity is hovering at levels slightly above 12 cents per share.
Position - Long Sirius XM Radio
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On Feb 23 04:11 PM cardura wrote:
> Maybe they wanted to go out to dinner?
Sorry, had to say it.
Most likely options or tax related.
On Feb 23 04:19 PM OldDruid wrote:
> No, I don't think so. It wouldn't be dignified for officers to show
> up at MickyD's :) Seriously, I was more courious about the process
> and if is usual or has any significants. So far I have only seen
> @15k go in aftermarket. Light, really light.
I see 6...so most likely expirations since so many at this SP. Interesting one guy got a penny better than the rest LOL. Must also mean the Q/K report is a ways off yet. I would guess mid March.
President, Sales & Operations 92343 (1) D $0.12
EVP, General Counsel & Sec. 60938 (1) D $0.12
EVP & Chief Admin. Officer 89183 (1) D $0.13
Pres., Entertainment & Sports 86346 (1) D $0.12
EVP and CFO 61203 (1) D $0.12
SVP and Corporate Controller 8165 (1) D $0.12
I wouldn't worry with so many disposing. It also tips us that the Q/K is still a little ways off. Which jives with the fact that they announce the date about 2wks ahead of time. Officers have to be well outside a report release to transact shares.
What I like is they all transacted down here. LMAO! Also must mean they know SP won't be permanantly correcting much higher anytime soon..which is why we have to trade and play EVERY pop....
Sirius Xm Radio Inc (NASDAQ:SIRI)
Contact Information
1221 Avenue Of The Americas, 36th Floor,New York, Ny 10020, United States
Phone: 212-584-5100, Fax: 212-899-5050, Website: www.siriusradio.com
Sirius Xm Radio Inc (NASDAQ:SIRI)
ISIN International Securities Identification Number
ISIN(s): US82966U1034
Sirius Xm Radio Inc (NASDAQ:SIRI)
CUSIP Committee on Uniform Securities Identification Procedures
CUSIP(s): 82967N108
Sirius Xm Radio Inc (NASDAQ:SIRI)
Stock Symbols and Exchanges
Exchange Symbol Reuters Bloomberg Exchange Name MICR ACCR City Country Website
SIRI SIRI SIRI:US Nasdaq XNAS NASDAQ New York United States nasdaq.com
Sirius Xm Radio Inc (NASDAQ:SIRI)
Rankings
Number of funds Global Rank Country Rank Industry Rank
Owned: 319 898 790 1
Score: -0.42 9114 - -
Brand New: 41 1193 1050 1
Increased Existing: 45 1600 - -
No Change: 48 362 - -
Reduced Existing: 86 698 - -
Liquidated: 86 403 354 1
No Comparison Available: 13 - - -
Funds buying shares: 86 1413 1258 1
Buying %: 28.10 % 7584 4449 4
Funds not buying/selling shares: 48 - - -
Neutral %: 15.68 % - - -
Funds selling shares: 172 578 508 1
Selling %: 56.20 % 2162 1009 6
Davenport And Co Llc Institution 0.00 % 2009-02-20 1,917 $249 $0 0.00 % Added More 1,905 15875.00 % $0
Rbc Professional Trader Group Llc Institution 0.00 % 2009-02-20 34,420 $4,475 $0 0.00 % Added More 34,000 8095.23 % $0
Fifth Third Bancorp Institution 0.00 % 2009-02-20 8,541 $1,110 $0 0.00 % Sold Some -15,867 -65.00 % $0
Janus Capital Management Llc Institution -1.00 % 2009-02-19 None - - - % Sold All -9,342,200 -100.00 % $0
Morgan Stanley Institution -1.15 % 2009-02-19 2,131,805 $277,135 $0 0.00 % Sold Some -1,541,208 -41.96 % $0
Zebra Capital Management Llc Institution -3.18 % 2009-02-18 1 $0 $0 -7.14 % New Holding 1 100.00 % $0
Us Bancorp De Institution -2.35 % 2009-02-18 13,522 $1,758 $-135 -7.14 % Sold Some -4,370 -24.42 % $44
Jane Street Holding Llc Institution -2.33 % 2009-02-18 None - - - % Sold All -35,640 -100.00 % $356
Interlachen Capital Group Lp Institution -2.53 % 2009-02-18 None - - - % Sold All -1,326,557 -100.00 % $13,266
Lagrange Capital Administration L L C Institution -3.18 % 2009-02-18 None - - - % Sold All -396,585 -100.00 % $3,966
Ancora Advisors Llc Institution -3.31 % 2009-02-18 12,000 $1,560 $-120 -7.14 % No Change 0 0 % -
Rbc Dominion Securities Inc Institution % 2009-02-17 5,700 % Sold Some -4,100 -41.83 %
Hsbc Holdings Plc Institution % 2009-02-17 37,399 % New Holding 37,399 100.00 %
Adage Capital Partners Gp Llc Institution % 2009-02-17 1,380,000 % No Change 0 0 % -
Taurus Asset Management Llc Institution % 2009-02-17 11,700 % New Holding 11,700 100.00 %
Sterling Capital Management Llc Institution % 2009-02-17 20,000 % Added More 10,000 100.00 %
Ing Groep Nv Institution % 2009-02-17 170,170 % Sold Some -9,929,089 -98.31 %
Neuberger Berman Llc Institution % 2009-02-17 94,416 % Sold Some -33,494 -26.18 %
Signaturefd Llc Institution % 2009-02-17 12,500 % No Compare - - % -
Gsa Capital Partners Llp Institution % 2009-02-17 822,851 % New Holding 822,851 100.00 %
American Independence Financial Services Llc Institution % 2009-02-17 None - - - % Sold All -8,894 -100.00 %
Canyon Capital Advisors Llc Institution % 2009-02-17 None - - - % Sold All -766,667 -100.00 %
Algert Coldiron Investors Llc Institution % 2009-02-17 80,468 % Sold Some -14,211 -15.00 %
Pentwater Capital Management Lp Institution % 2009-02-17 None - - - % Sold All -3,118,040 -100.00 %
Kbc Group Nv Institution % 2009-02-17 526,106 % Added More 94,826 21.98 %
Royal Bank Of Canada Institution % 2009-02-17 7,727 % Added More 800 11.54 %
Susquehanna International Group Llp Institution % 2009-02-17 6,149,745 % Added More 3,891,660 172.34 %
Proshare Advisors Llc Institution % 2009-02-17 48,703 % Sold Some -3,453,981 -98.60 %
Intrepid Capital Management Inc Institution % 2009-02-17 4,000,000 % Sold Some -34,195,013 -89.52 %
Legg Mason Investment Counsel Llc Institution % 2009-02-17 1,920 % No Change 0 0 % -
Boston Trust And Investment Management Co Institution % 2009-02-17 3,380 % No Change 0 0 % -
Amvescap Plc Institution % 2009-02-17 11,220 % Sold Some -1,599,576 -99.30 %
Dkr Capital Partners Lp Institution % 2009-02-17 1,500,000 % No Change 0 0 % -
Tal Global Asset Management Inc Institution % 2009-02-17 162,008 % No Change 0 0 % -
Shaw D E And Co Inc Institution % 2009-02-17 227,207 % New Holding 227,207 100.00 %
Clearbridge Advisors Llc Institution % 2009-02-17 33,623,632 % Sold Some -352,610 -1.03 %
Lucas Capital Management Institution % 2009-02-17 12,760 % New Holding 12,760 100.00 %
Fmr Corp Institution % 2009-02-17 1,460 % Sold Some -24,981,911 -99.99 %
Ameriprise Financial Inc Institution % 2009-02-17 66,802,512 % Sold Some -108,055,579 -61.79 %
Jennison Associates Llc Institution % 2009-02-17 None - - - % Sold All -61,931,684 -100.00 %
Kellogg Group Llc Institution % 2009-02-17 32,654 % No Compare - - % -
Tenor Capital Management Co L P Institution % 2009-02-17 226,234 % Sold Some -610,400 -72.95 %
Tig Advisors Llc Institution % 2009-02-17 None - - - % Sold All -168,310 -100.00 %
Highbridge Capital Management Llc Institution % 2009-02-17 8,335,774 % No Change 0 0 % -
Covington Capital Management Institution % 2009-02-17 13,800 % New Holding 13,800 100.00 %
Profund Advisors Llc Institution % 2009-02-17 None - - - % Sold All -598,801 -100.00 %
Managed Account Advisors Llc Institution % 2009-02-17 374,554 % Added More 248,341 196.76 %
Citadel L P Institution % 2009-02-17 177,589 % New Holding 177,589 100.00 %
Apollo Management Iv Lp Institution % 2009-02-17 91,857,857 % No Change 0 0 % -
Opus Trading Fund Llc Institution % 2009-02-17 None - - - % Sold All -35,000 -100.00 %
Aletheia Research And Management Inc Institution % 2009-02-17 None - - - % Sold All -21,723 -100.00 %
Two Sigma Investments Llc Institution % 2009-02-17 19,508 % Sold Some -55,392 -73.95 %
Rbc Dain Rauscher Inc Institution % 2009-02-17 127,847 % Sold Some -373,944 -74.52 %
Denver Investment Advisors Llc Institution % 2009-02-17 69,230 % Sold Some -13,800 -16.62 %
Verizon Communications Inc Institution % 2009-02-17 501,923 % Added More 23,888 4.99 %
Scotsman Capital Management Llc Institution % 2009-02-17 88,320 % Sold Some -460 -0.51 %
Wells Fargo And Co Institution % 2009-02-17 1,082,695 % Added More 877,245 426.98 %
www.mffais.com/siri.ht...
A general comment. Say what you want about SIRI, but now as we look around we find ourselves closed lower on the Dow now than even any intraday October or November low. S&P didn't quite take out October lows but it's damn close. This is actually a good thing IMHO. How long have we been putting up with "is the bottom in?" bs. Now, we can put in the freaking bottom and move on. My held portfolio is back to Oct/Nov levels. There are few places to hide if you're in. Otherwise you're in cash and doing nothing either.
Obama admin has done nothing but exhibit lack of leadership. Notice not one speech he gives has any hope to it. He started his little ass-kicker pesona as soon as he was sworn in--typical bait and switch candidate. Be all nicey nice and hopeful in the campaign, then turn into Mr. Hyde in office. This Geitner is invisible. He reminds me a of a little punk kid compared to Paulson's man presence. I didn't think it could get worse than Paulson, but sadly, I'd rather have him back. At least he had presence and instilled a litle fear that he might kick your ass. This Geitner looks like a scared little puppy. WTF?? But in general, I was right. Obama thinks he's Abraham Lincoln and everything he does, he makes it like it's all for the "little guy." Well, nothing wrong with helping the middle class but ignoring the big boys does nothing for everyone since they are the big boys and pretty much run the financial world. Obama thinks he going to overhaul everything at once and in doing so, he's not addressing the most important issues first. He's already talking about raising taxes. someone's got to teach this guy pacing and timing. More bad timing. And someone's also got to tell him to stop pretending he's Abraham Lincoln. He's not and far from it. If anything he a wannabe and a pretender. Not to mention telling his TS to get the F in front of the cameras more with substance but also learn how to put a spin of hope on his speeches. Why does he think all his tough talk and continuing to slap everybody in the face everyday is the way to go?
IMHO, mffais means nothing at this stage. Whatver Funds might still be holding or buying or selling have no effect on the movement of the SP. we've been watching these numbers now since about November and what have they really taught us? Answer: that they mean nothing, buy hold or sell. This SP is all about the debt and will be tangled up with that debt load until 2014. No two ways around it.. .13, and that we've already seen .04 during the BK threat, says it all. Everyone has seen how going lower works and why. CHTR shows you what is beyond what we saw 10 days ago...although they are in their purgatory cause they announced BK but won't be actually doing it until April 1. Once they do and are delisted to Pinks, they will move a little bit more than their daliy pergatory currently (and SIRI wouldn't go through that exact fate--although I also belive we've heard the last of BK frm SIRI for a while). But again, I personally think mffais means jack at this point. You also wouldn't use the info to determine if SIRI is a LT play. Cause it's not considering they'll be reversing this year. I'm afraid that SIRI SP is in the hands of traders and shorts for the forseeable future--Mel has allowed that to be the case. Best way to play it, is forget about things like mffais and play the pops and drops as they happen in real time. That's the best return at this stage...JMHO...
Thanks for the link...yeah, that's exactly what I just predicted a little earlier based on todays insider disposal filings. No way would they do this less than 3 weeks out. I figured mid March also. Always good to have the letter of the law handy. Of course since we now know Mels nickname (11th Hour Mel), it will be reported exactly 74 3/4 days from Dec 31. LOL
I agree with your prediction. We may not close with a 6 handle but will see it intraday this week, then we'll pop. Hey, these guys have wanted to go lower since Nov but there was too much positive static and short covering going on. As said, now that we're down here, the lower we can go the better in the next few days. Then maybe some of these managers will believe in it as a bottom for a while. I see March being a pretty good market month then a turn back down in April.
Don't forget to take your protein pills...
On Feb 23 05:03 PM sl62 wrote:
> killer...
>
> I wouldn't worry with so many disposing. It also tips us that the
> Q/K is still a little ways off. Which jives with the fact that they
> announce the date about 2wks ahead of time. Officers have to be well
> outside a report release to transact shares.
>
> What I like is they all transacted down here. LMAO! Also must mean
> they know SP won't be permanantly correcting much higher anytime
> soon..which is why we have to trade and play EVERY pop....
Don't disagree with you....however, in the position we find ourselves in, it is my opinion that all info is in play. These numbers are more recent than the ones prior to the Liberty announcement,
As long as I still see major buying/additions to positions, we can conclude that although we are at risk...it is calculated risk, and I think that would be soothing to some who read here.
Thanks for the link.
From that POV, agreed..knowledge is power. I just think it's easy for some who don't understand those filings to think they actually have any influence on this SP at this stage. Appreciate your input...
Anyone who doesn't realize by now how this stock trades has their head in their culo....if you know what I mean. This market in general requires a large sack of nuts...and some serious due dilligence. To trade in this particular equity, one could say we are all effin crazy!
well said...
Just as an add.. several of us remain in this equity for two basic reasons. 1. It's kind of gotten a little personal. I feel Mel has taken something from me and I want it back...FROM HIM. Thus I will shadow and strategize him until I am at least satisfied enough. And 2. We are still waiting for the final crescendo of this whole '09 debt mess..which continues now since Aug 1. Mel keeps dragging this out but until that's resolved and I see what happens to this SP, I will be here with baited breath, again, strategizing and working on recouping my funds. Call it completing a job started with good intentions. Walking away before it's over doesn't work in my book. Then when it's over, no way will I ever give Mel the time of day I do now. I will still keep my eye on him but not to such a daily extent. I don't think he believes it but he owes his shareholders something. And we most certainly want what he owes us..