Banque Cantonale Vaudoise Trims Stake in Sirius XM Holdings

Banque Cantonale Vaudoise has recently reduced its investment in Sirius XM Holdings Inc. (NASDAQ:SIRI), as per the latest report from HoldingsChannel. In the 3rd quarter, the bank's stake in the satellite radio company decreased by 4.1%, leaving it with 66,808 shares after the sale of 2,867 shares. The value of these remaining shares was estimated at $302,000 at the quarter's end.

Institutional Investor Activity

Alongside Banque Cantonale Vaudoise, other institutional investors have also adjusted their positions in Sirius XM. ING Groep NV acquired new shares valued at $2.11 million during the same period. CWM LLC grew its ownership by 4.0% in the 2nd quarter, resulting in a stake of 103,142 shares worth $467,000. Ieq Capital LLC and Bank of Nova Scotia similarly increased their shares in Sirius XM during recent quarters, adding to the trend of active institutional involvement.

Analyst Insights

Wall Street analysts have been closely following Sirius XM with mixed opinions. Recent reports by various analysts show a range of ratings from 'sell' to 'buy'. However, the consensus rating currently stands at 'Hold' with an average price target of $4.98.

Company's Financial Performance

Sirius XM reported a positive earnings surprise in its latest quarterly results, surpassing analyst expectations. Following these results and amid other financial activities, the company announced a quarterly dividend payment to shareholders, indicative of its consistent performance and commitment to returning value to investors.

About Sirius XM Holdings Inc.

Sirius XM Holdings Inc. presents itself as a major audio entertainment company in the United States, offering a wide array of channels for music, sports, and entertainment as well as podcasts and infotainment services. The significant 10.50% ownership of the stock by institutional investors and hedge funds reflects the company's robust standing in the market.

Banque, Cantonale, SiriusXM