Warren Buffett Boosts Investment in Sirius XM Holdings Inc.
Warren Buffett, known for his savvy investment moves, is upping his bet on Sirius XM Holdings Inc. Berkshire Hathaway Inc., his conglomerate, has been steadily increasing its stake in the radio broadcasting firm, acquiring $42 million worth of shares in just the past three days alone, according to regulatory filings.
Berkshire Hathaway now holds approximately 32.5% of Sirius XM’s publicly traded stock, making it the top holder of the company’s shares. This shift in ownership occurred after billionaire John Malone’s Liberty Media split off its 83% stake in Sirius XM and combined it with separate tracking shares.
In a show of confidence, Berkshire Hathaway added even more shares to its portfolio last week. This move provided a much-needed boost to Sirius XM’s stock, which has seen a 50% drop in value this year amid concerns about lower sales.
Warren Buffett’s continued investment in Sirius XM Holdings Inc. highlights his belief in the company’s long-term potential. As an investor, following Buffett’s moves can offer valuable insights into potential opportunities in the market. Stay tuned for more updates on Berkshire Hathaway’s latest investment strategies here at Extreme Investor Network.
Invest wisely.