Investors Sell Shares of Altaba (AABA) on Strength (AABA)

Traders sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading on Thursday. $89.78 million flowed into the stock on the tick-up and $110.93 million flowed out of the stock on the tick-down, for a money net flow of $21.15 million out of the stock. Of all companies tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $1.52 for the day and closed at $59.93

Several equities research analysts have recently issued reports on the company. BidaskClub cut Altaba from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Credit Suisse Group raised their price objective on Altaba from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, July 10th. Gabelli cut Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine cut Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, MKM Partners decreased their price objective on Altaba to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Altaba presently has a consensus rating of “Hold” and an average target price of $94.75.

A number of institutional investors have recently made changes to their positions in AABA. Canyon Capital Advisors LLC increased its holdings in Altaba by 47.0% in the first quarter. Canyon Capital Advisors LLC now owns 43,278,522 shares of the company’s stock valued at $3,204,342,000 after buying an additional 13,846,792 shares during the last quarter. LMR Partners LLP increased its holdings in Altaba by 387.3% in the second quarter. LMR Partners LLP now owns 7,729,900 shares of the company’s stock valued at $565,906,000 after buying an additional 6,143,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Altaba in the second quarter valued at about $209,414,000. Coronation Fund Managers Ltd. increased its holdings in Altaba by 565.9% in the second quarter. Coronation Fund Managers Ltd. now owns 753,454 shares of the company’s stock valued at $55,161,000 after buying an additional 640,303 shares during the last quarter. Finally, TD Asset Management Inc. increased its holdings in Altaba by 651.0% in the second quarter. TD Asset Management Inc. now owns 610,600 shares of the company’s stock valued at $44,702,000 after buying an additional 529,300 shares during the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.

Altaba Company Profile (NASDAQ:AABA)

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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