In a recent move by Berkshire Hathaway (NYSE:BRKa), the conglomerate has increased its stake in Liberty Media Corp (NASDAQ:LSXMK), purchasing shares worth approximately $29.3 million. The transactions, which occurred over three separate days, saw Berkshire Hathaway acquiring a total of 1,134,331 shares of Series C Liberty SiriusXM Common Stock at prices ranging from $25.5813 to $26.1333.
The first transaction took place on April 10, 2024, with Berkshire Hathaway buying 513,104 shares at a weighted average price of $25.956. The shares were bought in multiple transactions, with prices varying from $25.7400 to $26.5500. On the following day, April 11, the company added another 208,000 shares to its holdings at a weighted average price of $26.1333, with individual purchase prices between $26.0100 and $26.3500. The final batch of 413,227 shares was acquired on April 12 at a weighted average price of $25.5813, with the range of transaction prices stretching from $25.3600 to $26.0200.
After these transactions, Berkshire Hathaway's ownership in Liberty Media Corp's Series C Liberty SiriusXM Common Stock has reached a substantial total of 69,044,244 shares. The company's subsidiaries, including Government Employees Insurance Company, National Fire & Marine Insurance Company, and National Indemnity Company, collectively own 54,265,922 of these shares. Additionally, the pension plans of Berkshire's subsidiaries hold 14,778,322 shares.
Warren E. Buffett, the chairman and CEO of Berkshire Hathaway, is recognized as the controlling stockholder. While he may be deemed to beneficially own the shares held by Berkshire's subsidiaries due to his controlling interest, he disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
Investors and market watchers closely monitor Berkshire Hathaway's investment moves, as the company's portfolio is managed under the seasoned eye of Warren Buffett, often referred to as the "Oracle (NYSE:ORCL) of Omaha" for his investment prowess. The recent purchase of Liberty Media Corp stock further solidifies Berkshire Hathaway's position in the company, indicating a continued confidence in Liberty Media's value and prospects.
InvestingPro Insights
Berkshire Hathaway's recent investment in Liberty Media Corp (NASDAQ:LSXMK) has caught the attention of investors, and current data from InvestingPro provides additional insights into the company's financial health and market performance. With a market capitalization of $8.3 billion, Liberty Media Corp is positioned as a significant player in the market. Notably, the company's Price-to-Earnings (P/E) ratio stands at 10.14, which is adjusted to 9.75 for the last twelve months as of Q4 2023, suggesting that the stock may be reasonably valued compared to earnings.
The company's revenue for the last twelve months as of Q4 2023 was $8.953 billion, with a Gross Profit Margin of 48.98%, indicating a strong ability to retain earnings after the cost of goods sold. Despite a slight revenue decline of 0.56% during the same period, Liberty Media Corp maintains an Operating Income Margin of 21.28%, showing effective management of its operations and expenses.
Two InvestingPro Tips stand out for potential investors: Liberty Media Corp has a high shareholder yield and analysts predict the company will be profitable this year. These factors could be particularly appealing to those seeking companies with strong returns to shareholders and positive earnings outlooks. Additionally, the stock's low price volatility may appeal to investors looking for stability in their portfolio.
For those interested in further analysis, InvestingPro offers additional tips, including insights on the stock's RSI suggesting it is in oversold territory and the fact that the company does not pay a dividend to shareholders. To access these valuable insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 6 more InvestingPro Tips available for Liberty Media Corp, which can be found at https://www.investing.com/pro/LSXMK.
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