We recently published a list of 10 Stocks With At Least $10 Million In Insider Spending Recently. In this article, we are going to take a look at where Sirius XM Holdings Inc. (NASDAQ:SIRI) stands against other stocks with at least $10 million in insider spending recently.
Since Donald Trump took office, the stock market has experienced a roller coaster ride. Nonetheless, despite concerns about tariffs, job cuts, policy changes, and geopolitical uncertainties, the broader market has risen by 1.46% year-to-date. Furthermore, equity strategists in a Reuters poll project that the broader market will finish the year 9% higher than its current level.
“Many analysts agree with this projection, arguing that the Trump administration’s policies won’t have long-term negative impacts on economic growth or inflation. Furthermore, Trump is often considered the most pro-stock market president in American history.
In addition, one factor that could support the bull market is the adoption of AI, which, according to Morgan Stanley’s Andrew Slimmon, could lead to a productivity boom similar to what happened with the Internet in the late 1990s. Slimmon also points out that investor behavior over the last few years seems similar to what it was in previous bull markets, and adhering to these patterns can be one of the most reliable strategies for driving portfolio outperformance.
When analyzing investor behavior, we chose to focus on insiders—high-level executives and directors within a company. Why focus on insiders? Because they often have valuable insights into a company’s strategy, plans, and next moves. For example, when a CEO or CFO invests their own money in company shares, it can signal strong confidence in the company’s potential.
While both insider buying and selling can be driven by various motives, it’s important to consider these actions in the context of the company’s fundamentals, industry trends, and market conditions. This is why due diligence is crucial before making any investment. However, insider trading activity, along with other relevant factors, can offer valuable insights into a company’s capabilities, helping investors make more informed decisions.
What stocks have seen at least $10 million in insider spending recently? To find out, we used Insider Monkey’s insider trading stock screener, focusing on stocks where at least one insider purchase since the beginning of the year was valued at $10 million or more. Although the total value of insider purchases during this period may be higher, only those worth $10 million or more were considered in this search. Since there were more than 10 stocks meeting this criteria, we selected the 10 stocks with insider purchases ranging from $10 million to $20 million, choosing those with the highest amounts within this range for further analysis.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
For each stock, we provide details on the highest individual purchase, the number of insider purchases between $10 million and $20 million since the start of the year, and the company’s current market capitalization.
A close-up of a hand, counting the money from the subscription fees of the Entertainment Communication Services company.
Sirius XM Holdings Inc. (NASDAQ:SIRI)
Highest Individual Purchase: $19,838,448.00
Number of Purchases Worth Between $10 million and $20 million: 3
Market Capitalization: $8.19 billion
The first of the 10 stocks with at least $10 million in insider spending recently is an audio entertainment company, which provides satellite radio and streaming services to more than 33 million subscribers in the U.S. Sirius XM Holdings Inc. (NASDAQ:SIRI)’s offerings include a wide range of audio content, from music and sports to news and podcasts. The company was formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio to become SiriusXM Radio. It is also one of 12 best broadcasting stocks to buy right now.
Since the beginning of the year, one insider — Berkshire Hathaway Inc — made several investments in the stock. On January 31, it purchased 840,000 shares at an average price of $23.62 per share, making an acquisition worth $19.84 million. With its latest purchase that happened on February 2, Berkshire Hathaway Inc increased its holdings in SiriusXM Radio stock to 119.78 million shares.
The stock is now trading at $24.19, having gained 6.10% year-to-date.
Sirius XM Holdings Inc. (NASDAQ:SIRI) reported fourth-quarter and full-year 2024 revenue of $2.19 billion and $8.70 billion, respectively, representing declines of 4% and 3%, respectively, compared to the same periods in 2023. Out of the total revenue, subscribers revenue amounted to $1.65 billion, which compares to $1.73 billion in the comparable quarter of the prior year. The company reported net income of $287 million for the fourth quarter and a net loss of $2.08 billion for the full year 2024, compared to net income of $228 million and $988 million in the prior year, respectively.
Ten analysts have an average “Moderate Buy” rating on Sirius XM Holdings Inc. (NASDAQ:SIRI) stock, with a 12-month target price of $31.50, according to MarketBeat.
Overall, SIRI ranks 1st on our list of stocks with at least $10 million in insider spending recently. While we acknowledge the potential of SIRI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SIRI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
