Sirius XM shares rise as Buffett's Berkshire ups stake to 33%

Sirius XM Holdings

01/11/2024 10:33

** Shares of Sirius XM  SIRI.O  rise 2.5% premarket to $27.32 as
Warren Buffett's Berkshire Hathaway  BRKa.N  continues boosting
stake in satellite-radio broadcaster
** Berkshire purchased bought ~2.2 mln shares worth ~$60.7 mln
from Tues-Thurs this week, according to  late Thurs
    ** The conglomerate now owns 33.2% of the 339.1 mln SIRI
shares outstanding
** Sirius XM began trading as an independent public in Sept
after completing split-off and merger with billionaire John
Malone's Liberty Media
** On Thurs, SIRI shares closed down 2.7% after co reduced
full-yr rev forecast on expectations of slower growth in paying
users
    ** Through Thurs, shares have lost 51% YTD, including ~13%
gain in Oct
    ** 14 analysts cover SIRI and recommendation breakdown is 5
"strong buy" or "buy", 3 "hold", and 6 "sell" or "strong sell";
median PT is $28 - LSEG data

(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))