Warren Buffett's Berkshire Hathaway scoops up more Sirius XM, boosting stake to 35%
Published On Feb 4, 2025, 8:36 AM
Warren Buffett's Berkshire Hathaway has increased its stake in Sirius XM to 35.4% after purchasing approximately 2.3 million shares, costing around $54 million. The company has faced a challenging year with a 58% drop in its stock price due to subscriber losses and demographic shifts, leading it to struggle for favor among analysts; only 3 out of 16 have recommended it as a buy. Despite this, the stock has shown signs of recovery, gaining about 5% early in the new year.
Stock Forecasts
SIRI
Positive
Given Berkshire's significant investment and Buffett's reputation for making sound long-term bets, the increase in stake might indicate potential strategic shifts or optimism about Sirius XM's long-term prospects. However, the underlying issues of subscriber loss could hold the stock back in the near term, making it a risky prospect despite Berkshire's backing.
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