BUZZ-SiriusXM gains as Buffett's Berkshire buys more shares

Reuters10-21 19:55

** Shares of SiriusXM Holdings up 3% at $28.45 premarket after Warren Buffett's Berkshire Hathaway disclosed increased stake in satellite-radio firm ** Berkshire bought ~1.6 mln shares worth about $42 mln from Weds-Fri last week, bringing total holdings to ~110.3 mln shares, according to SEC filing late Fri ** Buffett, who bought ~3.6 mln shares the week prior, now owns ~32.5% of the 339.1 mln SIRI shares outstanding ** SiriusXM began trading as an independent public co last month after completing split-off and merger deal with billionaire John Malone's Liberty Media

** Through Fri, SIRI has rallied ~21% over the past two weeks. Stock has halved YTD

(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))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment