Warren Buffett doubles down on this firm: Is it a good investment? Look...

Investing.com  |  Author Laura Sánchez

Published Apr 11, 2024 10:43

Investing.com - The man regarded as the Oracle (NYSE:ORCL) of Omaha by the investment community continues to drop investment hints. Through his conglomerate Berkshire Hathaway (NYSE:BRKa), Warren Buffett has bought around $100 million in Liberty Media Corp SiriusXM A (NASDAQ:LSXMA).

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In a filing with the US Securities and Exchange Commission (SEC), Berkshire Hathaway reports spending $30.69 million to buy 1.12 million Series A shares of Liberty SiriusXM, at a weighted average price of $27.3325.

The company also paid $66.42 million to purchase 2.42 million Series C shares, at a price of approximately $27.405.

In total, it spent $97.11 million. Berkshire now owns 33.88 million Series A shares and 67.91 million Series C shares.

However, these purchases have not helped the stock, which is falling to 4-month lows. Year-to-date, A shares have lost 8.5% through Monday and C shares have lost 8.8%. By comparison, Sirius XM (NASDAQ:SIRI) shares are down 38.3% this year, Berkshire's Class B shares are up 15.7% and the S&P 500 SPX index has advanced 8.4%, MarketWatch reports.

Buffett has now spent about $465.4m to increase his stake in Liberty Sirius XM Series C (LSXMK) and Series A (LSXMA) shares. He now owns about 30% of Liberty SiriusXM's outstanding shares.

h2 How Can Investors Take Advantage Of This?/h2

ProTips for Liberty Media Corp (NASDAQ:FWONA) SiriusXM A and Liberty Media Corp SiriusXM C are estimated to be positive according to the InvestingPro Professional Tool:

Liberty SiriousXM's fair market value is currently listed at $29.92 (which is an 14.7% potential upside), with low risk