Short Interest in Altaba Inc. (AABA) Drops By 13.8%
Altaba Inc. (NASDAQ:AABA) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 13,686,087 shares, a decrease of 13.8% from the November 15th total of 15,870,171 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily volume of 11,082,650 shares, the days-to-cover ratio is currently 1.2 days.
Shares of Altaba (NASDAQ AABA) opened at $70.29 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.87 and a current ratio of 6.87. The firm has a market cap of $61,389.74, a PE ratio of 281.16 and a beta of 1.87. Altaba has a 1-year low of $38.24 and a 1-year high of $73.25.
In related news, CFO Alexi Wellman sold 860 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.79, for a total value of $62,599.40. Following the transaction, the chief financial officer now owns 19,845 shares of the company’s stock, valued at $1,444,517.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tor Braham sold 10,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total value of $688,300.00. Following the completion of the transaction, the director now directly owns 9,434 shares in the company, valued at approximately $649,342.22. The disclosure for this sale can be found here. Corporate insiders own 24.00% of the company’s stock.
A number of research analysts recently commented on the company. MKM Partners reissued a “buy” rating and issued a $76.00 target price on shares of Altaba in a research note on Friday, September 1st. UBS reissued a “buy” rating and issued a $77.00 target price on shares of Altaba in a research note on Friday, September 22nd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $53.63.
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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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