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Sydnee Gatewood
Sydnee Gatewood
Articles (2955) 

Wally Weitz Comments on Liberty SiriusXM

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October 23, 2020 | About:
Liberty SiriusXM (NASDAQ:LSXMA) remains on the laggards list predominantly due to its difficult performance in the first calendar quarter. Currently Liberty/SiriusXM shares trade at a sizeable discount to where we think they should trade, given the market price of the underlying SiriusXM (NASDAQ:SIRI) shares. We believe that Liberty SiriusXM management will unlock that discount over time, but in the meantime, we have shorted a portion of our position's underlying SiriusXM shares as to monetize some of that discount for ourselves. We continue to be long-term believers in SiriusXM's business, and we remain net long on Liberty/SiriusXM on an economic basis.

From Wallace Weitz (Trades, Portfolio)'s Partners III Opportunity Fund third-quarter 2020 commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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