These Stocks Under $5 Are Poised To Explode

32 hedge funds covered by us reported owning a stake in broadcasting company Sirius XM Holdings Inc. (NASDAQ:SIRI) worth an aggregate $1.47 billion at the end of June, representing 7.20% of the company. Sirius XM Holdings Inc. (NASDAQ:SIRI) is the only stock in our list that is trading in the green this year, up by almost 10% year-to-date. Last month the company announced the launch of four new channels which will help it enhance its lead in the commercial-free music space. Sirius XM Holdings boasts a gross profit margin of 62.80%, which is unusually high when compared to its competitors and the company’s ROE has improved rapidly over the past few quarters. Two of the most revered hedge funds on the Street, Jim Simons‘ Renaissance Technologies and Steve Cohen‘s Point72 Asset Management, significantly upped their stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the second quarter, to 19.58 million shares and 10.88 million shares respectively.