Disciplined Growth Investors Inc. MN Invests $128.34 Million in Yahoo! Inc. (AABA)

Disciplined Growth Investors Inc. MN purchased a new position in shares of Yahoo! Inc. (NASDAQ:AABA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,355,692 shares of the company’s stock, valued at approximately $128,338,000. Yahoo! accounts for 2.7% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 11th largest holding. Disciplined Growth Investors Inc. MN owned 0.25% of Yahoo! as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AABA. Congress Asset Management Co. MA acquired a new stake in Yahoo! during the 2nd quarter worth $300,000. Towerview LLC acquired a new stake in Yahoo! during the 2nd quarter worth $9,534,000. IFP Advisors Inc acquired a new stake in Yahoo! during the 2nd quarter worth $350,000. Rhumbline Advisers acquired a new stake in Yahoo! during the 2nd quarter worth $3,364,000. Finally, SG Americas Securities LLC acquired a new stake in Yahoo! during the 2nd quarter worth $221,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

A number of analysts recently weighed in on AABA shares. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $72.00 price target (up previously from $58.00) on shares of Yahoo! in a research note on Sunday, June 18th. B. Riley dropped coverage on shares of Yahoo! in a research note on Monday, June 19th. J P Morgan Chase & Co started coverage on shares of Yahoo! in a research note on Wednesday, June 28th. They set an “overweight” rating for the company. Oppenheimer Holdings, Inc. started coverage on shares of Yahoo! in a research note on Thursday, July 6th. They set an “outperform” rating and a $75.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Yahoo! from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Wednesday, July 12th. Thirteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $51.48.

Shares of Yahoo! Inc. (NASDAQ:AABA) traded down 0.43% during midday trading on Friday, reaching $67.62. 1,632,939 shares of the company were exchanged. The firm’s 50 day moving average is $65.94 and its 200-day moving average is $56.23. Yahoo! Inc. has a 52-week low of $38.24 and a 52-week high of $69.51. The company’s market capitalization is $64.86 billion.

Yahoo! declared that its board has authorized a stock buyback plan on Monday, July 31st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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Yahoo! 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.

Institutional Ownership by Quarter for Yahoo! (NASDAQ:AABA)

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