In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Liberty Media Corp (NASDAQ:LSXMK) reported that Berkshire Hathaway has picked up 23,357,109 of common stock as of 2017-04-24.
The acquisition brings the aggregate amount owned by Berkshire Hathaway to a total of 23,357,109 representing less than 10.5% stake in the company.
For those not familiar with the company, Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc. (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc. (Live Nation). The Company’s segments are SIRIUS XM, and Corporate and other. SIRIUS XM provides a subscription-based satellite radio service. Through its subsidiaries and affiliates, the Company principally operates in North America. The Company also owns a portfolio of minority equity investments in publicly traded media companies, including Time Warner, Inc. and Viacom, Inc. SIRIUS XM transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through two satellite radio systems.
A glance at Liberty Media Corp (NASDAQ:LSXMK)’s key stats reveals a current market capitalization of 22.26 Billion based on 223.07 Million shares outstanding and a price at last close of $40.61 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-04-24 Weschler, picked up 1,288,834 at a purchase price of $40.62. This brings their total holding to 27,232,120 as of the date of the filing.
On the sell side, the most recent transaction saw Carleton unload 22,400 shares at a sale price of 33.62. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Liberty Media Corp (NASDAQ:LSXMK) as things move forward to see if its progress aligns with these transactions.
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