News about Sirius XM Holdings (SIRI) buying Pandora (NYSE:P) might have piqued the interest of billionaire investor Warren Buffett, who according to Barron's, has just acquired more shares of the satellite radio provider. The increased buying interest can soon drive SIRI stock back to its 52-week high of $5.53 and on its way towards $6.25 per share, delivering gains of 25%.
SIRI stock closed Tuesday at $4.97. The shares have risen 12.7% year to date, besting the 7% rise in the S&P 500 index. SIRI stock is still up some 27% over the past year even though the shares sold off in late April after the company reported in-line first quarter earnings while reaffirming fiscal year 2017 guidance. Sirius surprised and angered investors by not raising guidance.
