Sirius XM Holdings Inc (SIRI)

[lasers]

There is interesting "street" speculation/rumor that the PPS drop to $3.70 was deliberately setup to enable more shares buyback. $2 bil buyback at $4 is 500 mil shs. $2 bil buyback at $3.70 is 540 mil shs. Fri's Vol 281 mil + Thur's vol 122 mil = 400 mil.

Goldman's Matthew Niknam is sticking to his current 12-month target of $4.25, but the stock is being downgraded from buy to neutral since it has already appreciated substantially since being added to the firm's Americas Buy List -- with an initial $3.50 price target

GS downgrade was because PPS considerable appreciation and not because of anything specific in the results.

Take it for what it is worth.

I bought more and will continue to do so. IMO PPS will be back above $4 soon.