Altaba (AABA) Sets New 1-Year High at $76.87
Altaba Inc. (NASDAQ:AABA)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $76.87 and last traded at $76.84, with a volume of 2293562 shares changing hands. The stock had previously closed at $76.48.
Several equities analysts have weighed in on the company. BidaskClub raised Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. UBS Group reissued a “buy” rating and set a $77.00 price objective on shares of Altaba in a report on Friday, September 22nd. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Altaba presently has a consensus rating of “Buy” and an average target price of $54.45.
The company has a market cap of $66,820.00, a PE ratio of 40.91 and a beta of 1.88.
Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Altaba in the third quarter worth $505,000. Russell Investments Group Ltd. raised its position in shares of Altaba by 409.6% in the third quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock worth $5,727,000 after buying an additional 69,488 shares in the last quarter. 683 Capital Management LLC raised its position in shares of Altaba by 8.3% in the third quarter. 683 Capital Management LLC now owns 325,000 shares of the company’s stock worth $21,528,000 after buying an additional 25,000 shares in the last quarter. Atlantic Trust Group LLC raised its position in shares of Altaba by 97.8% in the third quarter. Atlantic Trust Group LLC now owns 41,370 shares of the company’s stock worth $2,740,000 after buying an additional 20,458 shares in the last quarter. Finally, Opera Trading Capital raised its position in shares of Altaba by 8,700.7% in the third quarter. Opera Trading Capital now owns 79,206 shares of the company’s stock worth $5,247,000 after buying an additional 78,306 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.
Altaba Company Profile
Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.
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