Investors Sell Altaba (AABA) on Strength (AABA)
Traders sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading on Friday. $90.66 million flowed into the stock on the tick-up and $188.10 million flowed out of the stock on the tick-down, for a money net flow of $97.44 million out of the stock. Of all equities tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $0.48 for the day and closed at $70.97
Several research analysts recently issued reports on the stock. Gabelli lowered shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. BidaskClub cut shares of Altaba from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. Credit Suisse Group boosted their price objective on shares of Altaba from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. Finally, ValuEngine raised shares of Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $96.75.
A number of institutional investors have recently added to or reduced their stakes in the business. Canyon Capital Advisors LLC raised its stake in shares of Altaba by 47.0% during the 1st quarter. Canyon Capital Advisors LLC now owns 43,278,522 shares of the company’s stock worth $3,204,342,000 after purchasing an additional 13,846,792 shares in the last quarter. LMR Partners LLP raised its position in Altaba by 387.3% during the 2nd quarter. LMR Partners LLP now owns 7,729,900 shares of the company’s stock worth $565,906,000 after purchasing an additional 6,143,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Altaba during the 2nd quarter worth $209,414,000. OZ Management LP raised its position in Altaba by 19.1% during the 1st quarter. OZ Management LP now owns 14,510,033 shares of the company’s stock worth $1,074,323,000 after purchasing an additional 2,326,938 shares during the last quarter. Finally, Suvretta Capital Management LLC raised its position in Altaba by 96.7% during the 1st quarter. Suvretta Capital Management LLC now owns 3,131,461 shares of the company’s stock worth $231,853,000 after purchasing an additional 1,539,451 shares during the last quarter. 72.58% of the stock is owned by institutional investors.
Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.
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