Exactly, have never seen volume this low on a CC day. They have pushed out the majority of the reets and most others don't give a crap about this stock. Reets now only own about 16% of this stock and that # will continue to decline with this type of suppression/manipulation.Originally Posted by Wolf Child
Last edited by denco1; 10-28-2014 at 03:39 PM.
I am almost completely speechless. Without a doubt, Malone will continue to wait out the reet exodus until we are all out. Then he will just simply and calmly take the company as he releases an enormous fart in our direction. This only makes me more angry and more unwilling to sell out to this prick!
Edit: with only 16% retail investors left, there is no way we even have a chance. Does anyone know who holds the largest institutional positions? Probably deals in place long ago to sell out to liberty at pre negotiated prices. Also, the share repurchases have not and will never do us one spit of good. Designed to benefit Liberty only as it has always been designed to increase their % ownership at zero cost to them. That is THE ONLY reason they are doing it. The only effect to the share price can be plainly observed as the value decreases as more debt is piled on. This is looking so blatantly criminal!
Last edited by bdp.; 10-28-2014 at 04:58 PM.
from the call: We have about 2.15 billion of remaining capacity out of the $6 billion authorized by our board of directors for share repurchases. We will continue to be opportunistic in executing on the plan and will update the public on future calls.
Opportunistic code for sub 3.15????
Only down $.02 on the day. That's not too bad!
I WIN. GAME OVER. CHECK MATE. I CONTROL YOUR EVERY MOVE. WATCH WHAT HAPPENS NEXT
Liberty..........58% ish
All other institutions about 26.75%
Reets the rest...about 16%
http://www.nasdaq.com/symbol/siri/in...ional-holdings
176 mn shares repurchased during Q3...about 3% of total. They used several ASR agreements as well as open market purchases.
http://files.shareholder.com/downloa...937/filing.pdf
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
As of September 30, 2014 , our board of directors had approved $6.0 billion for repurchases of our common stock. Our board of
directors did not establish an end date for this stock repurchase program. Shares of our common stock may be purchased from time to time on
the open market and in privately negotiated transactions, including in transactions with Liberty Media and its affiliates. The size and timing of
these purchases will be based on a number of factors, including price and business and market conditions.
The following table provides information about our purchases of equity securities registered pursuant to Section 12 of the Securities
Exchange Act of 1934, as amended, during the quarter ended September 30, 2014 :
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
See Exhibit Index attached hereto.
46
Period
Total Number of
Shares Purchased
Average Price Paid
Per Share (a)
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the Plans or
Programs (a)
July 1, 2014 - July 31, 2014 35,000,000 $ 3.43 35,000,000 $ 2,564,718,581
August 1, 2014 - August 31, 2014 84,889,755 (b) 84,889,755 $ 2,320,362,715
September 1, 2014 - September 30, 2014 56,357,303 (c) 56,357,303 $ 2,231,626,158
Total 176,247,058 (b)(c) 176,247,058
(a) These amounts include fees and commissions associated with the shares repurchased.
(b) In May 2014, we prepaid $600 million under an ASR agreement (the "May ASR Agreement") which settled in August 2014 at which time we
received a final incremental delivery of 39.3 million shares of our common stock and $93.6 million for the unused portion of our original
prepayment. In August 2014, we prepaid $250 million under an ASR agreement (the "August ASR Agreement") and received an interim delivery of
20.4 million shares of our common stock. In addition, during August 2014 we purchased 25.2 million shares of our common stock on the open
market at an average price of $3.49 per share. See Note 14 to the unaudited consolidated financial statements included in this report.
(c) In September 2014, we received 31.5 million additional shares of our common stock under the August ASR Agreement. The August ASR Agreement
settled on October 1, 2014, at which time we received an additional 19.4 million shares of our common stock, which are not reflected in this table. In
addition, during September 2014, we purchased 24.8 million shares of our common stock on the open market at an average price of $3.57 per share.
See Note 14 to the unaudited consolidated financial statements included in this report.
Last edited by denco1; 10-28-2014 at 07:52 PM.
Wait for holdings reports to come through mid November for updated numbers. Those are a little old with things moving as they are.
Buyback has 11% buying power left in it, right? Figure 1 more year of FCF and they could take out that 16%. Of course not ALL retail will sell but a good number will. There are plenty in this forum looking to sell soon / frustrated... and if that's the case I am sure there are many more who aren't as into SIRI as one who goes on a message board about it... (not saying anything bad about that, just making a point).
Nothing wrong with LMCA offering a small premium on a ratio swap where you get equity in whatever it is swapped to. Better to be on the SIRI side than the LMCA side before that transaction anyways unless the stocks are skewed like they were before. It's not stealing anything... it's not a buyout... not sure why people think it is stealing something when you get equity... heck you'll have equity in a "whole" SIRI at that point too.
LMCA will unlock value at some point. Or at some point the buybacks will shrink outstanding shares to the point it becomes almost impossible to hold the SP down too much. My assumption is both come at the same time.
The buyback is a march, too... same as they refer to other things. Slow and steady, chip chip chip and eventually it breaks. Run out of sellers at some point here. Next year? Two?
Long time to wait for some and it's hard to hold onto something that is moving slowly when others are talking about making 20% overnight on names like GPRO and whatnot.
I still think it's better to have SIRI drag during the buyback for any investor who isn't looking for an out. Look at it as your money doing the buyback... you want the shares bought as cheaply as possible. If you're looking to get out and buy something else I guess I sympathize with what I am sure is frustration but my understanding is that a share repurchase program DONE RIGHT is a long term return of capital over time to investors in the company. It's not really supposed to pump the stock up so those who wish to sell out can do so at a premium to the cost of those who remain investors, or so that traders can sell back to the company high then short it down and buy back lower at remaining investor's expense.
SIRI buyback has been run very well for investors so far. Many won't see it that way and that's fine... the more that do not, the longer the buyback can be run in good fashion.
Denco.....looks like the 85 million shares that were bought on the open market from july thru sept were bought back for about 3.50 a share give or take.
Thanks for the link to 10q.
Last edited by dm_4; 10-28-2014 at 09:10 PM.
siri hit 3.37 today on above average 10 day volume...go fkn figure lol.
Last edited by dm_4; 10-29-2014 at 10:04 AM.
Retail float is about 800 mn shares. Most of those 176 mn shares probably came from the reets....about 20% of the retail float.
EDIT: At this pace they could take out retail float in the next 4-5Qs
All but mine......LONDUCKDONG
Last edited by denco1; 10-29-2014 at 10:34 AM.
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