Sirius XM, After Soaring, Is a Contrarian Play

Story updated with new comments from Barrington Research on Sirius XM

BOSTON (TheStreet) — Sirius XM Radio’s stock sells for $ 2, up from less than $ 1 a year ago. Still, Craig Hodges of the Dallas-based Hodges Fund says the shares make for a great contrarian bet.

Sirius XM, which reported first-quarter financial results today, has paid off big for Hodges. Sirius XM is a holding in both the $ 300 million Hodges Fund, a multi-cap core equity fund created in 1992, as and the $ 15 million Hodges Pure Contrarian Fund, opened in 2009 to invest in beaten-down stocks. As of March 31, Sirius XM represented a 3% weighting in the former and 2.4% in the latter. …

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