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

Reuters
2024-12-20
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))

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