Shares of Altaba Inc (NASDAQ:AABA) have been given an average rating of “Hold” by the nine brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $93.42.
A number of brokerages have recently issued reports on AABA. BidaskClub cut Altaba from a “hold” rating to a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Altaba to $80.00 and set an “overweight” rating on the stock in a research note on Monday, November 5th.
Institutional investors have recently made changes to their positions in the company. Baupost Group LLC MA bought a new stake in Altaba in the 3rd quarter valued at $191,470,000. Samlyn Capital LLC bought a new stake in Altaba in the 4th quarter valued at $78,636,000. Alpine Global Management LLC bought a new stake in Altaba in the 3rd quarter valued at $68,120,000. FIL Ltd raised its stake in Altaba by 85.0% in the 3rd quarter. FIL Ltd now owns 2,036,808 shares of the company’s stock valued at $138,747,000 after acquiring an additional 935,768 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Altaba by 20.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 5,230,000 shares of the company’s stock valued at $303,003,000 after acquiring an additional 880,000 shares during the period. Institutional investors own 71.49% of the company’s stock.
Shares of Altaba stock traded down $0.76 on Tuesday, reaching $67.86. 8,524,921 shares of the company were exchanged, compared to its average volume of 7,057,313. Altaba has a one year low of $54.75 and a one year high of $82.45.
Altaba Company Profile
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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