Mffais.com compiles the statistics from recent SEC filings by mutual funds and institutions to determine the positions taken and confidence in stocks by professional mutual fund managers and institutional investors. Over the past year the company has seen a dramatic rise in price coupled with financial metrics that improve quarter after quarter. In addition the company has refinanced and/or paid down debt to make improvements on the balance sheet.
The outlook for Sirius XM has been a radio sector highlight and now we have some interesting data, via press release, to demonstrate that:
- Sirius Xm Radio Inc (SIRI) leads industry in number of funds buying shares 50.26% of industry buys
- Sirius Xm Radio Inc (SIRI) had the highest overall confidence score (relation of funds buying versus fund selling)
- Entercom Communications Corp (ETM) had second highest number of funds buying shares 16.23% of industry buys
- Westwood One Inc (WWON) had the second highest overall confidence score (relation of funds buying versus fund selling)
- The top 30 moves by funds in the industry by value of trade shows:
- a) 56.66% buys versus 43.33% sells
- b) Sirius Xm Radio Inc (SIRI) buys were 50.00% of all activity, 88.23% of number of buys and 96.61% of value of buy trades
- c) Entercom Communications Corp (ETM) buys were 6.66% of all activity, 11.76% of number of buys and 3.38% of value of buy trades
- When institutions own multiple industry stocks, the most bought industry stock was Sirius Xm Radio Inc (SIRI)
- When institutions own multiple industry stocks, the most sold industry stock was Entercom Communications Corp (ETM)
In satellite radio, Sirius was traditionally invested in quite heavily by retail investors. XM Satellite Radio always enjoyed a heavy institutional presence. After the merger of Sirius and XM, in which XM shares were converted to Sirius shares, the balance between retail and institutional investors was dominated by retail. Having institutional backing often adds stability to a stock in that these funds buy in bigger chunks and tend to hold longer than retail investors. Seeing institutional confidence could bode very well for SIRI as 2011 begins to unfold, especially considering that Sirius XM will be announcing their Q4 2010 numbers this Tuesday.
Position – Long Sirius XM Radio