victim of market momentum.... im buying.
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victim of market momentum.... im buying.
I think the overall conversion rate trended down to 42%, which probably takes into account the used car conversions stated to be in the low 30% range.
Other than this metric which was trending down, I think most if not all others were pretty positive.
'morning Denco and all others. Since I'm totally out of SIRI I merely browse here to keep up on what's happening. In the meantime Denco, I wonder if your Spurs are starting the playoffs with a bit of over-confidence in mind. Seems both they and my Heat are a bit lethargic and not yet playing with any so-called playoff intensity. There's a long way to go, so let's hope for the best as we move forward.
#fu putin
Hey SLy, good to see you drop in!
My Spurs played like crap both games and are lucky to be 1,1. I agree they have no intensity and are getting their asses kicked. Hope they right the ship so that we can meet up with your Heat again in the finals.
Quote:
Originally Posted by Slip60
It was actually flat sequentially from Q4 and is only new car conversion. Used is in the lower 30s as per Meyer. Churn did go down year over year and sequentially. On the CC they stated that churn was strong and actually better than the reported #.
that sure is paying off nicelyQuote:
Originally Posted by Wolf Child
Yes, low 30's for used car conversion was stated in the conference call. I didn't think the new car conversions was as low as 42% last Q. I can look it up easy enough.Quote:
Originally Posted by denco1
Thanks
Bought another 20k at 3.14 after the market opened down and trying to unload now at 3.23 as I only planned for a quick trade. I have the sell order in as an AON, so it might take some time, if it even executes.
we're just getting back to where we were yesterday...... the "squeeze" hasn't even really started yet.
Are you basketball fans seeing the banner for Sirius XM's NBA Radio underneath the scorers table at some of these playoff games? I have, and it's great to see them trying to raise awareness. I've seen it on the hockey boards also in the past, so I would think they are also displayed at this years playoffs.Quote:
Originally Posted by denco1
SXM purchased 65 million open-market shares for $210 million so far this year based on this statement from today's 8-K:
“Tomorrow, we are scheduled to repurchase 93 million shares from Liberty Media for $340 million, bringing total share repurchases for the year to 158 million shares for $550 million and leaving us with $1.7 billion remaining under our share repurchase authorization. Total debt to adjusted EBITDA at the end of the first quarter 2014 was 2.8 times, below our 4.0 times leverage target. We expect to opportunistically tap the debt markets this year as we move towards our leverage target, ” added Frear.
So, SXM has been buying during this downturn at an average cost of $3.23 per share. There were concerns that they had to wait until the Liberty purchase had finished (i.e., couldn't do any buyback until tomorrow), but these concerns have now proven to be unfounded.
Also, based on the above statement regarding a debt leverage target of 4 times adjusted EBITDA, SXM can comfortably borrow up to $1.26 billion (coincidentally, the amount of the current revolver) and use about $500 million in 2014 FCF to hit its remaining $1.7 billion share repurchase authorization. Even at an average price of $4 per share, that $1.7 billion will reduce the outstanding share count by about 425 million shares (about 7% of 6.059 billion outstanding shares as of 3/31/2014).
And finally, the P&F chart hit a double top breakout today and has a bullish price objective of $3.71. Let's keep the mo going!
Quote:
Originally Posted by Slip60
I have seen the banner during the games. Stands out quite well. I like the exposure.
Thought this was important from the Q&A:
Jim Meyer
I’ll take the first one in the third one and David will take the middle one on SAC. First of all, I thought we were clear, I just want to be clearer. Our guidance for self-pay net additions this year is 1.25 million. Our first quarter performance quite candidly was a little better than we had expected when we drew that plan. But I want to continue to see how the months unfold, but I’m confident in the 1.25 million.
So total net subs should be break even from last year or even better? I was under the impression since January that 1.25M was the total net for the year. Self-pay subs would still be down YOY, but maybe total net subs will be much better and perception of SIRI will be better to the public as well?
Steiny,Quote:
Originally Posted by Steiny
Not sure what to believe as there definitely is a distinction between net subscriber additions and net self-pay subscriber additions. This is from their release dated January 7th and clearly says that the 1.25m guidance is for Net Subscriber Additions:
NEW YORK, Jan. 7, 2014 /PRNewswire/ -- SiriusXM today announced that it ended 2013 with 25.56 million subscribers, reporting 1.66 million net subscriber additions in the year, exceeding the company's recently raised guidance of 1.6 million net additions. Self-pay net additions in 2013 were 1.5 million for the full year, bringing self-pay subscriptions to over 21 million.
The company also issued 2014 subscriber and free cash flow guidance and reiterated its 2014 revenue and adjusted EBITDA guidance of:
•Net subscriber additions of 1.25 million,
•Free cash flow approaching $1.1 billion,
•Revenue of over $4.0 billion, and
•Adjusted EBITDA of approximately $1.38 billion.
So it seems the news was essentially inert, or at best pretty decent. ("Nice job " with a few pats on the head...)
Where do you get 3.23 ?
Quote:
Originally Posted by MLSiri
SXM-I,Quote:
Originally Posted by sxminvestor
Simple math: so far this year SXM has purchased 65 million open-market shares for $210 million; $210 million/65 million shares = $3.23 per share.
We have 3.15 printed this morning. Not a good sign. Was there something horrific about the CC or just the usual bullying taking its toll? Perhaps the higher than market Liberty share sale today is pressuring the sp downward? Or just Sirius being the usual Sirius.
The 1st 100 share trade that went through for 3.21 was mine immediately followed by a MM order @ 3.14 and then a fill of space between the two......Quote:
Originally Posted by bdp.
No matter what price is put in by a reet to start the day it is always undercut by MM.
Not really important info but thought I'd share my experiences.
Sirius down from close. Futures all red. I think today we get hammered.