We recently published a list of 10 Stocks Insiders Spent The Most Money On Recently. In this article, we are going to take a look at where Sirius XM (NASDAQ:SIRI) stands against other stocks insiders spent the most money on recently.
As the broader market continues to rise this year, we thought it would be interesting to highlight some stocks that have seen significant insider buying recently. Insiders—such as executives and directors—often have valuable insights into a company’s strategy, plans, and future initiatives. For instance, when a CEO or CFO invests their own money to purchase company shares, it can be seen as a strong vote of confidence in the company’s prospects. When an insider makes a substantial financial commitment, it often signals an even higher level of confidence in the company’s future performance.
Why should we be interested in insider trading activity? While both insider selling and buying can be driven by various motives, it is important to consider these moves within the broader context of the company’s fundamentals, industry trends, and overall market conditions. That’s why due diligence before any investment is of the utmost importance. However, insider trading activity in combination with other relevant determinants can offer valuable insights into a company’s capabilities, helping investors make more informed investment decisions.
What are some of the stocks that have seen the most insider investment recently? To find out, we used Insider Monkey’s insider trading stock screener, focusing only on stocks where each individual insider purchase was valued at $2 million or more. This means the total value of insider purchases over the same period (last 60 days) could be higher, but only larger purchases were considered in the search.
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With each stock, we note the value of acquired shares, which refers to the value of shares acquired through individual insider purchases worth at least $2 million each.
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)
Value Of Shares Acquired: $96,443,369.86
Market Cap: $8.98 billion
Sirius XM is an audio entertainment company, which provides satellite radio and streaming services to more than 33 million subscribers in the U.S. Its offering includes 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.
Over the last 60 days, one insider – Berkshire Hathaway Inc, purchased $96.66 million worth of Sirius XM Holdings shares at an average price of $20.76 per share. The stock is now trading at $26.52, having gone up 16.32% since the beginning of the year.
Sirius XM 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.
Fifteen analysts have an average “Hold” rating on SIRI stock, with a 12-month target price of $27.04, representing an increase of 1.96% from the previous price, according to StockAnalysis.
Sirius XM is also considered one of the 12 Best Broadcasting Stocks to Buy Right Now.
Overall, SIRI ranks 5th on our list of stocks insiders spent the most money on recently. While we acknowledge the potential of SIRI 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.
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Disclosure: None. This article is originally published at Insider Monkey.