Warren Buffett's Berkshire Hathaway hikes its SiriusXM stake to 32% after Liberty deal

Published On Oct 14, 2024, 12:20 PM

Warren Buffett's Berkshire Hathaway has increased its stake in SiriusXM to 32%, acquiring approximately 3.6 million shares for about $87 million. This move follows Liberty Media's recent restructuring of SiriusXM, which has faced challenges including subscriber losses and demographic issues. Despite Berkshire's investment leading to an 8% stock price increase on the announcement, SiriusXM is still facing skepticism from analysts, with concerns about long-term growth and the impact of share buybacks being paused until 2027. The stock is down over 50% this year.

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Stock Forecasts

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Negative

Despite Berkshire's support, SiriusXM faces ongoing challenges with subscriber retention and negative analyst sentiment. The stock may see short-term gains due to Berkshire's investment but long-term growth prospects remain uncertain, suggesting caution for potential investors.

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