10 Best Mid Cap Value Stocks To Invest In

7. Sirius XM Holdings Inc. (NASDAQ:SIRI)

Number of Hedge Fund Holders: 33

Market Capitalization as of October 28, 2024: $9.13 Billion

Forward P/E as of October 28, 2024: 9.75

Sirius XM Holdings Inc. (NASDAQ:SIRI) is a leading audio entertainment company in North America that owns SiriusXM, its flagship subscription entertainment business, and Pandora, a large podcast network with a suite of business and advertising solutions.

SiriusXM offers content across music, news, and sports to its audience of nearly 150 million monthly listeners and over 34 million subscribers. Pandora on the other hand has over 50 million active users. At the end of Q2 2024, Sirius XM Holdings Inc. (NASDAQ:SIRI) logged $2.18 billion in revenue and $316 million in net income. By the end of the quarter, SIRI had $343 million in free cash flow and $702 million in adjusted EBITDA. For the year ended 2023, the company generated $8.95 billion in revenue, of which SiriusXM accounted for 76% and Pandora made up 24%.

Following its recent split-off with Liberty Media Corporation, Sirius XM Holdings Inc. (NASDAQ:SIRI) is now an independent entity, and is rapidly growing. The restructuring allows the company to simplify its corporate structure and focus on providing audio entertainment services to people across North America.

At the close of Q2 2024, 33 hedge funds held stakes in the stock, contributing to its ranking as one of the best mid-cap value stocks to invest in. The company benefits immensely from its solid customer base. For the year ended 2023, 96% of revenue came from subscribers, a testament to its sustainable business model. Its largest shareholder, as of June 30, according to the Insider Monkey database, Berkshire Hathaway increased its position in the stock by 263% in Q2 2024.