Investors Buy Shares of Altaba (AABA) on Weakness

Traders bought shares of Altaba Inc (NASDAQ:AABA) on weakness during trading on Thursday. $87.95 million flowed into the stock on the tick-up and $36.08 million flowed out of the stock on the tick-down, for a money net flow of $51.87 million into the stock. Of all stocks tracked, Altaba had the 17th highest net in-flow for the day. Altaba traded down ($1.12) for the day and closed at $62.48

A number of analysts have recently commented on the company. BidaskClub downgraded Altaba from a “buy” rating to a “hold” rating in a research note on Saturday, July 21st. ValuEngine downgraded Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. JPMorgan Chase & Co. lowered their target price on Altaba to $80.00 and set an “overweight” rating on the stock in a research note on Monday, November 5th. Finally, MKM Partners lowered their target price on Altaba to $115.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $93.42.

Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in Altaba by 6.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 13,739 shares of the company’s stock worth $1,006,000 after purchasing an additional 810 shares in the last quarter. BB&T Corp boosted its position in Altaba by 8.4% during the second quarter. BB&T Corp now owns 16,148 shares of the company’s stock worth $1,182,000 after purchasing an additional 1,252 shares in the last quarter. Wealthstreet Investment Advisors LLC boosted its position in Altaba by 3.9% during the third quarter. Wealthstreet Investment Advisors LLC now owns 34,057 shares of the company’s stock worth $2,320,000 after purchasing an additional 1,280 shares in the last quarter. Sageworth Trust Co boosted its position in Altaba by 259.7% during the third quarter. Sageworth Trust Co now owns 2,140 shares of the company’s stock worth $146,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Weik Capital Management boosted its position in Altaba by 13.9% during the second quarter. Weik Capital Management now owns 13,720 shares of the company’s stock worth $1,004,000 after purchasing an additional 1,670 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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About Altaba (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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