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Berkshire Hathaway increases stake in Sirius XM with $107 million purchase

Published 20/12/2024, 03:42
Berkshire Hathaway increases stake in Sirius XM with $107 million purchase
SIRI
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These acquisitions were made through various subsidiaries and pension plans associated with Berkshire Hathaway (NYSE:BRKa), as outlined in the Form 4 filing with the Securities and Exchange Commission. Warren Buffett, as the controlling stockholder of Berkshire Hathaway, may be deemed to have a beneficial interest in these shares, although he disclaims ownership except to the extent of his pecuniary interest.

These acquisitions were made through various subsidiaries and pension plans associated with Berkshire Hathaway, as outlined in the Form 4 filing with the Securities and Exchange Commission. Warren Buffett, as the controlling stockholder of Berkshire Hathaway, may be deemed to have a beneficial interest in these shares, although he disclaims ownership except to the extent of his pecuniary interest.

These acquisitions were made through various subsidiaries and pension plans associated with Berkshire Hathaway, as outlined in the Form 4 filing with the Securities and Exchange Commission. Warren Buffett, as the controlling stockholder of Berkshire Hathaway, may be deemed to have a beneficial interest in these shares, although he disclaims ownership except to the extent of his pecuniary interest.

In other recent news, Sirius XM (NASDAQ:SIRI) Radio has seen several adjustments in its financial outlook by major analysis firms. Benchmark revised its price target for Sirius XM to $32, maintaining a Buy rating, following the company’s release of its 2025 guidance, which forecasts a decline in revenue. Rosenblatt raised its target to $29, keeping a neutral stance, following Sirius XM’s strategy shift to focus on acquiring car-based subscribers. Goldman Sachs cut Sirius XM’s price target to $21 due to a reduced earnings outlook, while BofA Securities maintained an underperform rating with a steady price target of $23.

These revisions come in light of Sirius XM’s revised 2025 guidance, which includes an expected revenue of $8.5 billion and an EBITDA of $2.6 billion. The company also projects a free cash flow increase to $1.15 billion from approximately $1.0 billion this year. Sirius XM plans to generate $1.5 billion in free cash flow by 2027, supported by $200 million in annualized cost savings expected by the end of next year.

Other recent developments include the appointment of Wayne D. Thorsen as the new Executive Vice President and Chief Operating Officer. These are the latest developments in Sirius XM’s financial journey as the company navigates its future.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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