BUZZ-Sirius XM rises as Buffett's Berkshire ups stake to 34.6%

Reuters12-20 22:25
BUZZ-Sirius XM rises as Buffett's Berkshire ups stake to 34.6%

** Sirius XM's SIRI.O shares rise 1.8% to $21.95 premarket, as Warren Buffett's Berkshire Hathaway BRKa.N boosted stake in the satellite-radio broadcaster

** Berkshire bought about 5 mln shares worth $107 mln from Tuesday to Thursday this week, according to SEC filing on Thursday; it now owns 34.6% of the company

** Berkshire had bought ~2.2 mln shares worth ~$60.7 mln last month

** Sirius XM began trading under a new structure in September after announcing the completion of a split-off and merger with Liberty Media

** Of 14 analysts covering SIRI, three rate it "strong buy" or "buy", five "hold", and six "sell" or "strong sell"; median PT is $28 - LSEG data

(Reporting by Sanchayaita Roy in Bengaluru)

((Sanchayaita.roy@thomsonreuters.com))

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