Matthews International Capital Management LLC Invests $11.88 Million in Altaba Inc (NASDAQ:AABA)
Matthews International Capital Management LLC acquired a new position in shares of Altaba Inc (NASDAQ:AABA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 171,200 shares of the company’s stock, valued at approximately $11,876,000. Altaba comprises about 0.5% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 25th biggest position.
Several other hedge funds have also bought and sold shares of AABA. FTB Advisors Inc. acquired a new stake in shares of Altaba during the first quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new position in Altaba in the first quarter valued at $26,000. Exane Derivatives acquired a new position in Altaba in the second quarter valued at $46,000. Destination Wealth Management boosted its holdings in Altaba by 51.0% in the second quarter. Destination Wealth Management now owns 711 shares of the company’s stock valued at $49,000 after acquiring an additional 240 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new position in Altaba in the first quarter valued at $57,000. Institutional investors and hedge funds own 79.75% of the company’s stock.
A number of brokerages have commented on AABA. ValuEngine cut Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. BidaskClub cut Altaba from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Altaba from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 4th.
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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