SiriusXM rallies as Buffett's Berkshire boosts stake

Sirius XM Holdings

14/10/2024 12:58

** Shares of satellite-radio co SiriusXM  SIRI.O  up 3.6%
premarket at $25.82 as Warren Buffett's Berkshire Hathaway
 BRKa.N  increases stake
    ** SIRI could rise for 6th straight session on Mon, if gains
hold
    ** Berkshire bought ~3.6 mln shares from Weds-Fri last week,
bringing total holdings to ~108.7 mln shares, per SEC filing
late Fri
    ** Buffett now holds ~32% of the 339.1 mln SIRI shares
outstanding
    ** On Sept 10, SiriusXM began trading as an independent
public co after completing split-off and merger transaction with
billionaire John Malone's Liberty Media
    ** SIRI, which ended 2023 at $54.70, hit 2024 intraday low
of $22.18 last Mon
    ** 13 Wall Street analysts cover SIRI and recommendation
breakdown is 3 "strong buy", 2 "buy", 3 "hold", 4 "sell" and 1
"strong sell" with median PT of $28, LSEG data shows

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))