Investors Buy Shares of Altaba (AABA) on Weakness

Investors bought shares of Altaba Inc. (NASDAQ:AABA) on weakness during trading hours on Friday. $82.88 million flowed into the stock on the tick-up and $29.89 million flowed out of the stock on the tick-down, for a money net flow of $52.99 million into the stock. Of all stocks tracked, Altaba had the 12th highest net in-flow for the day. Altaba traded down ($0.29) for the day and closed at $75.85

Several research firms recently issued reports on AABA. UBS Group reissued a “buy” rating and issued a $77.00 price target on shares of Altaba in a research report on Friday, September 22nd. BidaskClub raised shares of Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.45.

The stock has a market capitalization of $66,250.00, a price-to-earnings ratio of 40.56 and a beta of 1.88.

In related news, Director Tor Braham sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $68.83, for a total value of $688,300.00. Following the sale, the director now directly owns 9,434 shares in the company, valued at approximately $649,342.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexi Wellman sold 860 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.79, for a total value of $62,599.40. Following the completion of the sale, the chief financial officer now owns 19,845 shares in the company, valued at $1,444,517.55. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in AABA. Canada Pension Plan Investment Board raised its stake in Altaba by 315.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,926,117 shares of the company’s stock valued at $392,546,000 after acquiring an additional 4,500,000 shares during the period. Disciplined Growth Investors Inc. MN bought a new stake in Altaba in the 2nd quarter valued at about $128,338,000. Cibc World Markets Corp bought a new stake in Altaba in the 2nd quarter valued at about $108,960,000. Scoggin Management LP raised its stake in Altaba by 33.4% in the 3rd quarter. Scoggin Management LP now owns 2,077,484 shares of the company’s stock valued at $137,613,000 after acquiring an additional 520,050 shares during the period. Finally, SG Americas Securities LLC raised its stake in Altaba by 6,364.1% in the 3rd quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock valued at $17,350,000 after acquiring an additional 257,875 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

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Altaba Company 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.

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