Berkshire Hathaway was a net seller of stocks in the second quarter but resumed acquiring shares in Sirius XM, raising its ownership to over 124.8 million shares or 37% of the company. Insider buying is generally viewed as a positive indicator, particularly during market uncertainty. Sirius XM's stock has decreased by 7.8% recently and is down 18% over the past six months. It reported weak quarterly results, leading to its underperformance against the S&P 500, though analysts forecast a slight upside over the next year.
Berkshire Hathaway resumed acquiring shares of Sirius XM, increasing its stake to over 124.8 million shares, representing about 37% of the company.
Insider buying is seen as an encouraging signal for potential investors, especially in uncertain market conditions.
Berkshire Hathaway purchased over 5 million Sirius XM shares priced between $20.36 and $21.82, totaling almost $106.5 million.
Sirius XM shares have underperformed the S&P 500, down 7.8% in the past week and 18% over six months.
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