5 Stocks Making Headlines on Monday

3. Sirius XM Holdings Inc. (NASDAQ:SIRI) has tumbled 2.79% as of 12:02 PM ET after the New York-based audio entertainment company was downgraded from an Equal Weight to an Underweight rating by Benjamin Swinburne at Morgan Stanley. The analyst gave a price target of $7. The target price assumes a narrow potential upside of just 8.3% from the last closing price. Swinburne has downgraded Sirius XM Holdings Inc. (NASDAQ:SIRI) stock due to concerns related to the slowdown in consumer growth. He also highlighted that the cable and satellite industry is considered a defensive sector, but Sirius XM Holdings Inc. (NASDAQ:SIRI) is one of the companies in the industry that has a cyclical trend due to its correlation with the US auto sales.

Of the 924 hedge funds in Insider Monkey’s database, Sirius XM Holdings Inc. (NASDAQ:SIRI) was held by 24 hedge funds, with a cumulative holding of $165.15 million as of Q4 2021.